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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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Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
Saturday, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- VISA Power Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
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