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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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Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
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