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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, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
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- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- The University of Queensland
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
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