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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
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