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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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Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
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- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
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