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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, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Planning Commission, India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
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