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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, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- SMC Global Power, Philippines
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