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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, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
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- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
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