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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, 15 October 13
NEWCASTLE PORT SHIPPED 6.50% MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 6.50 per cent week on week to 3.19 million mt for ...
Monday, 14 October 13
MEMR OF INDONESIA SETS THE COAL'S SPOT PRICE AT US$ 76.61 FOR OCT'13 DELIVERY
COALspot. com - The Indonesian government has revised down government declared coal bench mark price by US$ 0.28/ MT to US$ 76.61 for October 2013 d ...
Monday, 14 October 13
CARBON POLICIES UNLIKELY TO PREVENT A COAL-FUELLED WORLD - WOOD MACKENZIE
China will propel coal growth but US, Europe and Asia will sustain global demand.
At the World Energy Congress (WEC) today Wood Mackenzie's Pres ...
Sunday, 13 October 13
Q4'13 DELIVERY SUB-BIT INDO COAL SWAP FALLS SEVEN STRAIGHT WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 1.72 percept month on month on Friday 11 October 201 ...
Sunday, 13 October 13
API 8 CFR SOUTH CHINA COAL - AVERAGE Q4 2013 DELIVERY FELL 0.30 PERCEPT ON WEEK
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.30 percept week on week on Friday 11 October 2013. The CFR South ...
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- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- The University of Queensland
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Planning Commission, India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
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