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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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Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
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