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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Xindia Steels Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
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