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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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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
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