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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, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
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