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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, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
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