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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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Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
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- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- SMC Global Power, Philippines
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- Indika Energy - Indonesia
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- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
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- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
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- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
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- Attock Cement Pakistan Limited
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- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
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