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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, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
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- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
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