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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, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Edison Trading Spa - Italy
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- The University of Queensland
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
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