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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, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Deloitte Consulting - India
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