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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, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
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