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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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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 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 ...
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- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- The University of Queensland
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
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