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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, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
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- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Planning Commission, India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
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