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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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Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
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- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
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