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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- London Commodity Brokers - England
- Central Java Power - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
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