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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, 23 June 09
NAPOCOR TO RE-TENDER FOR 195,000 T COAL IN JULY
Electricity producer National Power Corp. (Napocor) will hold a tender on July 15 to buy 195,000 tons of steam coal for its Sual power station, the ...
Monday, 22 June 09
ONE DIES IN KUTAI COAL TUNNEL COLLAPSE
The Jakarta Post reported that, A tunnel at a coal mine belonging to company PT Fajar Bumi Sakti in Kutai Kartanegara, East Kalimantan collapsed on ...
Monday, 22 June 09
THIS WEEK IS EXPECTED TO BE FIRM AND DEMAND OF SHIPS WOULD BE STRONG - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI up by 487 points over last week which is an increase of almost 13 pct. The increase is again mainly due to Ca ...
Monday, 22 June 09
CHINESE MAY COAL IMPORTS HIT RECORD 9.43 MILLION TONNES
Reuters quoted Custom Data showed that China's coal imports hit an all-time record of 9.43 million tonnes in May.
The figure surpasses the previ ...
Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...
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- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
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