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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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Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
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- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
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