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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, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
Thursday, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
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