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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- The University of Queensland
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Planning Commission, India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
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