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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, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
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- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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