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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
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