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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, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
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- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
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