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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, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Energy Link Ltd, New Zealand
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