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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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Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
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