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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, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
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- VISA Power Limited - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
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