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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, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
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- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
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