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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, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
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