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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, 04 August 13
COAL SWAP MARKET HAS LOST DIRECTION; STRUGGLING TO CATCH UP
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average October 2013 delivery slightly down on day, week and month on Friday, 2 A ...
Sunday, 04 August 13
INDONESIA TO INDIA SUPRAMAX FREIGHT SOFT DUE TO HOLIDAYS IN INDONESIA - VISTAAR
COALspot.com : The freight market was fairly steady this week with the BDI recovering towards north since second half of the week with the support o ...
Friday, 02 August 13
DRY BULK MARKET STABILIZES ON RENEWED MARKET ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its positive footing this week, although it's still a far cry to deem the market situation as a growing one, especiall ...
Friday, 02 August 13
ASIA ACCOUNTS FOR 27.95 PERCENT OF US COAL EXPORTS IN Q1, 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
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- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
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