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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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Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
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- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- The University of Queensland
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
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