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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- VISA Power Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
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