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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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Monday, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
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