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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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Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
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- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
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