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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, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
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- Wilmar Investment Holdings
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- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
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- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
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- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
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- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
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- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
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- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
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- Globalindo Alam Lestari - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Ministry of Mines - Canada
- SMG Consultants - Indonesia
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- Independent Power Producers Association of India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- TeaM Sual Corporation - Philippines
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- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
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- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
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- Energy Development Corp, Philippines
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- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
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- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
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- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
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- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
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- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
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- Planning Commission, India
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- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
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- Parliament of New Zealand
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- Interocean Group of Companies - India
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