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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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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Australian Coal Association
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
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