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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, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
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