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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, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
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- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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