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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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Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
Friday, 06 April 18
TOP MINER BHP QUITS WORLD COAL ASSOCIATION OVER CLIMATE CLASH - BLOOMBERG
BHP Billiton Ltd. has severed ties with the World Coal Association over a clash of views on how to combat climate change, with the mining giant say ...
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- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Australian Coal Association
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
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