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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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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Planning Commission, India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
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