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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, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
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JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
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"Earlier, ther ...
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- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
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