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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- The University of Queensland
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
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