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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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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
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