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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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Friday, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
Thursday, 18 June 09
GERMAN COAL BUYERS SEE LOWER IMPORTS, PRICES
* Coal imports and prices fall as steel industry slumps
* Coal industry grapples with carbon polluter image
German imports of hard coal are like ...
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- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
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