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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, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
Thursday, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
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- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Australian Coal Association
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- PTC India Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Parliament of New Zealand
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
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