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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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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
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- Sarangani Energy Corporation, Philippines
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- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
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- Indian Energy Exchange, India
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- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
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- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
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- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- The Treasury - Australian Government
- MS Steel International - UAE
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