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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, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
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- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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