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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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Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
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- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- The University of Queensland
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
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