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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Parliament of New Zealand
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
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