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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, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
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- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Parliament of New Zealand
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
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