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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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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- The University of Queensland
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
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