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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, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Australian Coal Association
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
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