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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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Tuesday, 11 June 13
COAL: NO SIGN OF RECOVERY - GABRIELLA
COALspot.com: We attended the 19th Annual Coaltrans Asia Conference, where we found most of the speakers were not very optimistic on the outlook for ...
Tuesday, 11 June 13
NEWCASTLE PORT SHIPPED MORE COAL WEEK ENDED 11 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 3,104,509 tons of coal for the week ended 0700 hours 11 June 2013, Newcastle Port Corp. ...
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as ...
Sunday, 09 June 13
CFR SOUTH CHINA COAL SWAP IS UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.03 percent week on week but gained 0.07 pe ...
Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
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- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- The University of Queensland
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
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