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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, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
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- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- PTC India Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Standard Chartered Bank - UAE
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