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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, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
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