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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, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
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- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Planning Commission, India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
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