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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, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
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- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- The University of Queensland
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
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