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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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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Jindal Steel & Power Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
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- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Eastern Coal Council - USA
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- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
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- The State Trading Corporation of India Ltd
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- Merrill Lynch Commodities Europe
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- CNBM International Corporation - China
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- Coal and Oil Company - UAE
- Minerals Council of Australia
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- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
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- Planning Commission, India
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- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
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- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
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- Tamil Nadu electricity Board
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- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
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- Heidelberg Cement - Germany
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- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
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- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- The University of Queensland
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- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
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- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
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- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
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- New Zealand Coal & Carbon
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- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
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- Savvy Resources Ltd - HongKong
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- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
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- Energy Development Corp, Philippines
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