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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, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
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