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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, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- The University of Queensland
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
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