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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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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Australian Coal Association
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
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