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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, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
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- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- PTC India Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- White Energy Company Limited
- Australian Coal Association
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- The University of Queensland
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
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