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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, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
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- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
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