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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
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