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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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Saturday, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR
COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts a ...
Friday, 10 July 09
DMO AND ICPR AIMED AT SECURING DOMESTIC COAL SUPPLY
COALspot.com (Indonesia): According to website of DGCMG, the implementation of coal Domestic Market Obligation (DMO) and the Indonesian Coal P ...
Friday, 10 July 09
INDONESIAN MINING LAW IN TRANSITION
Further to the enactment of Law No. 4 of 2009 on Mineral and Coal Mining (“Law 4/2009”), the enactment of various implementing regulatio ...
Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher interna ...
Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
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- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
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