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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, 12 August 09
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Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
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