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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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Friday, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed duri ...
Thursday, 04 July 13
CHALLENGER SIGNS FORMAL EXCLUSIVE MINING AND MARKETING AGREEMENT FOR ABBR PROJECT IN CENTRAL KALIMANTAN
COALspot.com - Challenger Deep Resources Corp., through its subsidiary PT Bestindo Energy has signed the formal exclusive Mining and Marketing agree ...
Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
- QBL to acquire interests in two Mozambique exploration licences prospective for coal
- Licenses located in the highly prospective Zambezi basin, ...
Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
Wednesday, 03 July 13
NEWCASTLE COAL EXPORTS DIP 24.79 PER CENT WOW
COALspot.com - Newcastle Coal exports fell 24.79% to 2.33 million tons WoW.
Newcastle port in Australia has loaded 2,332,513 tons of coal for the ...
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- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
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