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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
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
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