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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, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
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- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
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