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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Bhatia International Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
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