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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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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
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