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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, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
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- Binh Thuan Hamico - Vietnam
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
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- Eastern Energy - Thailand
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- Cement Manufacturers Association - India
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- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- The University of Queensland
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Aditya Birla Group - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
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