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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, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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