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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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Friday, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
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CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
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Thursday, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
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- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
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