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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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Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Monday, 01 June 09
LANDED COST OF IMPORTED COAL HAS INCREASED BY 10 - 15% COMPARE TO EARLY THIS YEAR - PAKISTAN TRADERS
COALspot.com (Pakistan): Due to visiting non commercial vessels occupied commercial berths in Karachi port, coal carrying vessels were sufferi ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH - THE JAKARTA POST
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week ...
Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
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- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- The University of Queensland
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
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