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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, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Orica Mining Services - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
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- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
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