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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, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
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- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
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