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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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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
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Saturday, 26 June 10
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Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
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