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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, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
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