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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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Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
Thursday, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
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- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
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