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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, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
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