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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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Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
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