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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
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