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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, 26 August 13
CARRIAGE OF COAL CARGOES FROM KALIMANTAN, INDONESIA - WEST OF ENGLAND P&I CLUB
The Club has recently been advised by consulting scientists and engineers Dr J H Burgoyne and Partners (International) Limited that the number of in ...
Sunday, 25 August 13
API 8 CFR SOUTH CHINA COAL: HEADING TO NORTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 2.39 up month on month. The swap was moved positive ...
Sunday, 25 August 13
THE FREIGHT MARKET S7 & S8 SECTOR IS EXPECTED TO BE STEADY/FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market continued to be firm with all indices moved positive except for Panamax which was slightly down (2 pct down).
T ...
Friday, 23 August 13
US PRODUCED MORE COAL WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
Thursday, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
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- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- White Energy Company Limited
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- The University of Queensland
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
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