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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, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
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