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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, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
Tuesday, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
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- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
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