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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, 01 October 13
DRY BULK MARKET POISED FOR RETREAT ON CHINA HOLIDAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The start of a national weeklong in China as of Tuesday is expected to put a lid in the latest rally of the dry bulk freight market, as has always b ...
Monday, 30 September 13
NEWCASTLE'S COAL EXPORT VOLUME CONTINUES TO SLIP
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 8.38 per cent week on week to 2.67 million mt fo ...
Monday, 30 September 13
PANAMAX CHARTER RATES TOUCHING US$ 18K FOR A TRIP TO NOPAC - CAPT. REDDY
COALspot.com : The freight market continued to remain firm, BDI and the Panamax index up week ended 27 September 2013.
The cape index was fell to ...
Sunday, 29 September 13
API 8 CFR SOUTH CHINA COAL Q3 2014 DELIVERY SWAP GAINED $1.19 M-O-M
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 ...
Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
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- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
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