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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
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