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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, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
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- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- White Energy Company Limited
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- The University of Queensland
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
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