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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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Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
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- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
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- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
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