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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Parliament of New Zealand
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
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