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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, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
Friday, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
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- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Planning Commission, India
- PTC India Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- The University of Queensland
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
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