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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, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- The University of Queensland
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
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