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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, 16 September 13
CFR SOUTH CHINA COAL SWAP: STABLE TO STEADY
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 ...
Monday, 16 September 13
INDONESIAN SUB-BIT COAL SWAP STRUGGLING TO FINDS THE RIGHT PATH
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 0.75 percept month on month on Friday 13 Septe ...
Sunday, 15 September 13
CAPE FREIGHT RATES RISE ON HIGH DEMAND AND TIGHT AVAILABILITY - CAPT. REDDY
COALspot.com : The BDI, Cape and Panamax indices are continued to rise and saw a steep surge with average index in these segments up around 25 pct w ...
Friday, 13 September 13
US COAL OUTPUT SLIPS 3.34% ON-WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.20 million short tons (mmst) of ...
Friday, 13 September 13
DIRECTOR GENERAL OF MINERAL AND COAL OF INDONESIA REVISED UP COAL PRICE REFERENCE TO US$ 76.89
COALspot. com - The Indonesian government has revised up its owned coal bench mark price by US$ 0.19/ MT to US$ 76.89 for September 2013 deliveries ...
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- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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