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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
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