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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
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