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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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Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
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Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
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Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
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- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Australian Coal Association
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Planning Commission, India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
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