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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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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
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- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
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