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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, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
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