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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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Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
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- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- White Energy Company Limited
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
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