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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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Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
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