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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, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
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