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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, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
Thursday, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
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- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
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