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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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Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
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Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
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