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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, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
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- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
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