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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, 17 September 13
BUMA PRODUCED 3.57 PERCENT MORE COAL IN AUGUST
COALspot.com: BUMA has removed totaled 25.20 million bcm of overburden to produce 2.90 million tons coal in August 2013. BUMI produced 3.07 percent ...
Tuesday, 17 September 13
NEWCASTLE PORT SHIPPED ABOUT 27 PERCENT MORE COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 27.26 per cent week on week to 3.01 million mt for ...
Tuesday, 17 September 13
TAIPOWER INVITES BIDS FOR SUPPLY OF SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open tende ...
Tuesday, 17 September 13
ORPHEUS SECURES SIGNIFICANT INFRASTRUCTURE DEAL THROUGH ACQUISITION OF SOUTH KALIMANTAN PORT CAPACITY
COALspot.com : Orpheus Energy Limited (ASX: OEG) of Australia has today announced that, it has executed a binding agreement with the proprietor of S ...
Monday, 16 September 13
WHAT RECOVERY MEANS FOR THE CAPESIZE MARKET - COMMODORE RESEARCH
COALspot.com: The simple fact that capesize rates have been able to increase above the $9,000/mark and become much more responsive to changes in car ...
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- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
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