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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, 04 June 13
WOOD MACKENZIE SAYS THE CHINA'S THERMAL COAL DEMAND WILL REACH NEARLY 7BTPA BY 2030
COALspot.com - The Illusion of Peak Coal' says that despite efforts to limit coal consumption and seek alternative fuel options, China's strong ap ...
Saturday, 01 June 13
COAL PRICES STRUGGLE TO FIRM UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.18 percent week on week and 0.03 percent ...
Saturday, 01 June 13
THE FREIGHT MARKET FOR S7 AND S8 SECTORS ARE EXPECTED TO BE SOFT - VISTAAR
COALspot.com – The freights are remains weak week ended 31 May 2013, as BDI fell 2.05 pct and closed at 809 points on 31 May 2013.
The Cape ...
Friday, 31 May 13
US PRODUCED 18.5 MILLION SHORT TONS OF COAL W/E 25 MAY 2013
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 18.50 million short tons (mmst) of ...
Thursday, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
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- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
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