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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
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