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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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Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
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- Mintek Dendrill Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
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