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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, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
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