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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Thai Mozambique Logistica
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