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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, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
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- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
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