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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, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Planning Commission, India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
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