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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, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
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- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
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