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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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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
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