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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, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
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The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
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Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
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- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
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- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
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- Semirara Mining and Power Corporation, Philippines
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- White Energy Company Limited
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- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
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- Maharashtra Electricity Regulatory Commission - India
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- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
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- Ministry of Mines - Canada
- Thiess Contractors Indonesia
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- Binh Thuan Hamico - Vietnam
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- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
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- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
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- Eastern Energy - Thailand
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- Power Finance Corporation Ltd., India
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- GVK Power & Infra Limited - India
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