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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, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
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