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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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Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
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RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Malabar Cements Ltd - India
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