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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, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
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- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
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