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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, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
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- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
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