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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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Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
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- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
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