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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, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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