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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, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
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- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Planning Commission, India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
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