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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, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
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