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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, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
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