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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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Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- White Energy Company Limited
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
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