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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- ICICI Bank Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
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