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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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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- White Energy Company Limited
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
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