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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, 01 July 13
12TH CLEAN COAL FORUM INDONESIA 2013
Press Release: Produced by CDMC Events, The 12th Clean Coal Forum Indonesia 2013 will be held on Dec 5-6,2013 in Jakarta, Indonesia. It will generat ...
Monday, 01 July 13
INDIA AND CHINA STILL DOMINATING THE INDONESIAN THERMAL COAL EXPORT MARKET
COALspot.com: Indonesia, the world's largest multi types coal exporter shipped 35.83* million tons of coal in May 2013, 1.40 per cent l ...
Sunday, 30 June 13
YEAR 2014 INDO SUB-BIT COAL SWAPS EXPECTED TO STAY BELOW 2013 LEVEL
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery have gained 0.08 percent on a day lost on week ...
Sunday, 30 June 13
CAPESIZE RATES SEEN INCREASING ON HIGH DEMAND - VISTAAR
COALspot.com - The BDI continued to rise and saw a big gain on Friday. BDI increased 14 per cent week ended 28 June 2013, closed at 1171 points driv ...
Friday, 28 June 13
U.S. PRODUCED 1.52 PERCENT LESS COAL WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.40 million short tons (mmst) of ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- The Treasury - Australian Government
- The University of Queensland
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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