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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, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
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- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
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