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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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Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
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- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Malabar Cements Ltd - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
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