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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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Monday, 07 July 14
SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL SHIPPED 12% LESS COAL IN JUNE COMPARED TO MAY EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 4.91 million tons ...
Monday, 07 July 14
INDONESIAN SUB-BIT COAL SWAPS FOR Q3 DELIVERY CRASHES THROUGH $ 54.50
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, 07 July 14
API 8 CFR SOUTH CHINA COAL SWAPS SHOW A DOWNWARD TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 drops US$ 5.47 month on month on Friday, dipping under $68 a ton. The CFR South Ch ...
Sunday, 06 July 14
PANAMAX INDEX BEING THE BIGGEST GAINER THIS WEEK; UP 52.75% W-O-W
COALspot.com: This week there was some positive signs in all the sectors. The Panamax index being the biggest gainer this week after losing for sev ...
Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
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- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
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