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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, 09 October 13
PANAMAX: FIRM ; FIXING ACTIVITY INCREASED IN BOTH BASINS - INTERMODAL
This was another week of gains for the Dry Bulk market, albeit very modest ones compared to the previous ones. Charterers and owners struggled for t ...
Tuesday, 08 October 13
CHINA: INTENSE COMPETITION AMONG DOMESTIC COAL MINERS AS 2013 IMPORT DEMAND REMAINS STRONG - WOOD MACKENZIE
Prices will not fall under RMB500/t or risk supply availability to the coastal market
Despite China's lower economic growth, Wood Mackenzie says ...
Monday, 07 October 13
RICHARD BAY COAL TERMINAL SHIPPED 49.94 MMT OF COAL YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 49,946,509 mt of coals YTD, according to por ...
Monday, 07 October 13
SOUTH AFRICA'S RBCT SHIPPED 7.94% MORE COAL IN SEPT' 13
COALspot.com - Richards Bay Coal Terminal (RBCT), the single largest coal export terminal in South Africa as well as in the world has shipped 7.94 p ...
Monday, 07 October 13
SGX - CFR SOUTH CHINA COAL SWAPS END ALMOST FLAT
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
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- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
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