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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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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Australian Coal Association
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
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