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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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Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
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