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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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Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
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