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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, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
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- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
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