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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, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
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- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
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