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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, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
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