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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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Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
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