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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, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Planning Commission, India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
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