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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, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- MS Steel International - UAE
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- The University of Queensland
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
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