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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, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Planning Commission, India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
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