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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, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
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- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Australian Coal Association
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
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