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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, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Deloitte Consulting - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
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