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