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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, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
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- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
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