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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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Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- The University of Queensland
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
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