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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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Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
Wednesday, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
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- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
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