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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, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
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- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Central Electricity Authority - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- White Energy Company Limited
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Planning Commission, India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Australian Coal Association
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
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