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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, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
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