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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
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Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Central Electricity Authority - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- White Energy Company Limited
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
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