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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, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- MS Steel International - UAE
- VISA Power Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
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