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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, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
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