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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, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
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