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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
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