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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
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