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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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Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
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