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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
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