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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Planning Commission, India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
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