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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, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
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- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
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