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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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Wednesday, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
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