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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, 22 October 13
KOWEPO INVITED BIDS FOR MULTI GRADE COAL
COALspot.com - Korea Western Power Co., Ltd. (KOWEPO), a Korean electricity generator intends to procure 240,000 tons of multi grade coal for its Ta ...
Monday, 21 October 13
SOUTH CHINA COAL SWAP FOR 2014 DELIVERIES SHOW A POSITIVE TREND
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.02 percept M-M on Friday 18 October 2013. The CFR South China Co ...
Sunday, 20 October 13
Q3'14 SUB-BIT INDO COAL SWAP CLOSED AT $ 61.80 PMT W/E 18 OCT' 13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 0.93 percept month on month on Friday 18 October 201 ...
Saturday, 19 October 13
NICKEL ORE SHIPMENTS KEEP SUPRAMAX CHARTER RATES STEADY - CAPT. REDDY
COALspot.com : The futures freight market continued to go down which was reflected in the physical markets as well.
The BDI continued to be soft ...
Friday, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
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- Bangladesh Power Developement Board
- Australian Coal Association
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
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