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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, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
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