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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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Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
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