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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, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
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- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Minerals Council of Australia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
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