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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, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
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- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Planning Commission, India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
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