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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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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
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