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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
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