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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
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