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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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Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Central Electricity Authority - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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