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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, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
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- Aditya Birla Group - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- The Treasury - Australian Government
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
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