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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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Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
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- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Planning Commission, India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
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