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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
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