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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, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
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