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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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Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- White Energy Company Limited
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Planning Commission, India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
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