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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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Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
...
Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- VISA Power Limited - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
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