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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, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
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- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
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