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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, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
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- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Trasteel International SA, Italy
- The University of Queensland
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
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