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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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Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
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- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- The University of Queensland
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
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