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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, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
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- Interocean Group of Companies - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- PTC India Limited - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Aditya Birla Group - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
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