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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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Monday, 07 October 13
Q3'14 SUB-BIT FOB INDONESIA COAL SWAP CLOSED 6.53% HIGHER THAN Q4'13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.53 % on day and fell 2.33 percept month on month ...
Sunday, 06 October 13
DRY BULK FREIGHT MARKET STAYS STEADY IN SPITE CHINESE HOLIDAYS - SOLYM CARRIERS SINGAPORE
COALspot.com: The freight market continued to remain firm in spite of Chinese holidays.
The BDI closed at 2,084 points on Friday 4 October or up ...
Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to ...
Friday, 04 October 13
NICKEL ORE SHIPMENTS - LESSONS LEARNED FROM LOSSES
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fue ...
Friday, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
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- Independent Power Producers Association of India
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- TNB Fuel Sdn Bhd - Malaysia
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- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
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- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- White Energy Company Limited
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
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- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
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- Videocon Industries ltd - India
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- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
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- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
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- Semirara Mining and Power Corporation, Philippines
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- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
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