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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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Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
...
Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- PTC India Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Australian Coal Association
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
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