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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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Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- The University of Queensland
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
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