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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, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Marubeni Corporation - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
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