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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, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Australian Coal Association
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- White Energy Company Limited
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
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