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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, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
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