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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, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
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