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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, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
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