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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, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
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