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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, 24 June 13
INDONESIA COAL SWAP FOR AUGUST 2013 DELIVERY GAINS WEEK ON WEEK
COALspot.com – Coal prices for immediate supply contracts have started moving up, but prices for next year supply shows a negative trend ...
Sunday, 23 June 13
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COALspot.com : The BDI crossed the psychological barrier of 1000 points after many months and closed at 1,027 points, which were up by 14.11 pct wee ...
Sunday, 23 June 13
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Although it's been the case in many occasions in the past, it appears that ship prices haven't been quite following freight market fundamentals, i ...
Friday, 21 June 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 19.70 million short tons (mmst) of ...
Thursday, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
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- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- PTC India Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
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