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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, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
ENERGY and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
Thursday, 14 May 09
INDONESIA 2009 COAL OUTPUT REVISED DOWN - REUTERS
* Indonesia coal output seen at 240 million tonnes in 2009
* Coal exports down 11.2 pct to 44.79 mln tonnes in Q1 2009
* Production down 1.4 pct t ...
Thursday, 14 May 09
PAKISTAN WILL IMPORT 3.2 MILLION TON OF COAL IN 2009 - SEATRADE
COALspot.com (Pakistan) - SEATRADE Group of pakistan a single largest imported coal supplier in Pakistan, forecasting Pakistan steam coal imports wi ...
Wednesday, 13 May 09
ADARO, ITM EXPECT COAL GROWTH IN 2009
Adaro, which has a market capitalization of $3.64 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and ...
Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
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- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
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