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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- PTC India Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- Australian Coal Association
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
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