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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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Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
Sunday, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
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- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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