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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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Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
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- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- White Energy Company Limited
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
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