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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, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
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- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
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