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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, 06 May 13
INDONESIAN COAL PRICE REFERENCE FALLS CONTINUE
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $ 3.23 / MT in May 2013.
The monthly coal pr ...
Sunday, 05 May 13
SUB-BIT FOB INDONESIA COAL - MIXED TREND; API 8 CFR SOUTH CHINA COAL - POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.28 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 04 May 13
INDONESIA TO INDIA PANAMAX FREIGHT : FLAT TO SOFT - CAPT. REDDY
COALspot.com - The demand for iron ore picked up and its pushed up the cape size index by 7.86 pct. Cape index closed at 1,344 points. The BDI ...
Friday, 03 May 13
US PRODUCED 17.9 MILLION SHORT TONS (MMST) OF COAL IN A WEEK
COALspot.com - U.S. produced totaled approximately 17.9 million short tons (mmst) in a week (For the week ended April 27, 2013), EIA said in its lat ...
Friday, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
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- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
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