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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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Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
Thursday, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
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- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- MS Steel International - UAE
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
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