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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
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