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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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Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
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- Posco Energy - South Korea
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
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