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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, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
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