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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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Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
Tuesday, 13 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMP 30.61 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 30.61 per cent week on week to 2.95 million mt for ...
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- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
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