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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, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
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