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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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