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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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Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- The Treasury - Australian Government
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Minerals Council of Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
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