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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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Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
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- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- White Energy Company Limited
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
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