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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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Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
Thursday, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
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- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- PTC India Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
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