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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, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Indika Energy - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
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