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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, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
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Physical global seaborne co ...
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The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- VISA Power Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Australian Coal Association
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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