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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- The University of Queensland
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
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