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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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Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Australian Coal Association
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
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