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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, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
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