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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, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
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- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- White Energy Company Limited
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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