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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, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Parliament of New Zealand
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
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