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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
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