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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, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
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- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
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