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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, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
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