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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
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