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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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Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
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Tuesday, 11 February 14
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T ...
Tuesday, 11 February 14
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Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
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- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Planning Commission, India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
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