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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, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- The University of Queensland
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
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