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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, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see ho ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
Tuesday, 21 January 14
PORT OF NEWCASTLE SHIPPED SLIGHTLY MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 20 January 14, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2. ...
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- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
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