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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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