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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, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
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- The University of Queensland
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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