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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, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
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 ...
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- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
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