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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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Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
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Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
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BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Minerals Council of Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
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