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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, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Planning Commission, India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
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