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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, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
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- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
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