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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, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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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- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
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