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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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Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
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- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Planning Commission, India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- PTC India Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
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