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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, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
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- Standard Chartered Bank - UAE
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- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
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- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Interocean Group of Companies - India
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- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
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- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
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- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Cement Manufacturers Association - India
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- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
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- Electricity Authority, New Zealand
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- Goldman Sachs - Singapore
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- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
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- Antam Resourcindo - Indonesia
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- ICICI Bank Limited - India
- Videocon Industries ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Parliament of New Zealand
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
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- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- The University of Queensland
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
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- Thai Mozambique Logistica
- PTC India Limited - India
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- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
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- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
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- Eastern Coal Council - USA
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- San Jose City I Power Corp, Philippines
- Planning Commission, India
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