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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
 The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. However, in most cases tonnage supply has been more than enough to meet demand and rates have been moving sideways as a result.
At the same time the CPP markets are not supporting the situation at all, while a trade war between China and USA is having its own effect in certain routes. Additionally, changes on import/export taxes in the regional palm oil market are also shaping the cargo flow.
As things stand, fundamentals in the veg oil market ex- South America are in charterers favour. CPP freights in the West have been in the doldrums and this is having an effect on veg oil freights as well, as several CPP owners try to find leverage on alternative markets. In addition, an increased import of CPP into Argentina/Brazil is building a long tonnage list in the South Atlantic. As if there were not enough negative factors in the market, the threat of China imposing import taxes on US agricultural products, including soy beans, is causing additional headache to traders.
The tax, which is considered a countermeasure on taxes already imposed by US on several products imported from China, is making traders cautious. This is to say that while soybean price from US has depreciated, the premium gained on the back of it by the soybean price from Argentina and Brazil, has in many cases made the product too expensive for the local crushers to buy. For the record, freight rates are still moving sideways at last done levels, USD mid-30s pmt bss 2/2 (South America/ India) on min 40,000mt.
Freight rates from the Black Sea are currently under pressure. While there is a steady flow of cargoes, the poor CPP market is pushing more Handy and MR tankers to look at loading sunflower oil from the Black Sea, however, shipments for the latter size are becoming scarcer lately. The 30-35,000mtons parcels to India are currently paying about USD high-30s/low-40s, while 35-40,000mtons parcels to China are paying about USD mid-40s, depending on port combination.
The long-haul palm oil market has generated some decent rates during the past month. However, given that the tonnage list for May is longer, unless there is an increase in activity, the positive trend is unlikely to continue. The rates for FOSFA MR ships on a TC Trip Far East/Europe are currently between 15,500-16,500 USD/pd.
Looking into the regional market, it is evident that the increased tax by 14% on India’s palm oil imports has had a significant impact on the country’s buying interest. On the contrary, Malaysia’s decision to suspend export taxes on CPO until the end of April has been partly offsetting the lack of activity in the region. Moreover China’s recently imposed 25% tariff on US soybean imports could generate a growth in demand for regional palm oil, as CPO can be used as an alternative in certain circumstances.
By Stelios Kollintzas
Specialized Products
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
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- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
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