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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, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
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