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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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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
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