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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, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
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