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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, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
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