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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, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Australian Coal Association
- White Energy Company Limited
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
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