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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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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- The University of Queensland
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
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