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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, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
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- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
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