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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, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
Monday, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
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- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- The University of Queensland
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
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