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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, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
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- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
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