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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, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- The University of Queensland
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
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