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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
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Central Electricity Authority - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- PTC India Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
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