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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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Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
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- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- The University of Queensland
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
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