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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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Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
Tuesday, 23 April 13
INDONESIAN STATE OWNED COAL MINER SHIPPED 4 PERCENT MORE COAL IN 1Q
COALspot.com - PT. Bukit Asam, the Indonesian state owned coal miner shipped more coal in first quarter of this year compared to the same period in ...
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- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
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