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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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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
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- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
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