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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, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
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- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
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