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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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Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
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- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
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