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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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
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