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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, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
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- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
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