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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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Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
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- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
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