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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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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
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