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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, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
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 ...
Monday, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
Friday, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
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- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
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- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
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