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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, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
Thursday, 08 March 18
AVERAGE U.S. COAL MINING PRODUCTIVITY INCREASES AS PRODUCTION FALLS - EIA
Coal mining productivity in the United States increased 26% over the past five years, reaching 6.8 tons per miner hour in 2017, up from 5.4 tons pe ...
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- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
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