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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
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