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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- White Energy Company Limited
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
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