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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, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
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- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
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