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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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Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Central Electricity Authority - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
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