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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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Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- White Energy Company Limited
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
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