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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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Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
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COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
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ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
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- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- The University of Queensland
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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