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Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
 The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports from S. America, which has provided Owners with firm rates on the back of a busy CPP market until mid-April, there is not any other positive market sign to report. Once again the palm oil markets remain very weak with further decreases in rates both in both regional and long-haul shipments.
The palm oil markets could be described as extremely poor. As far as the long-haul runs are concerned, there is very limited new business quoted for May. A long list of FOSFA MR tonnage combined with a very soft Intra-Asia CPP market for similar units currently earns below USD 10,000/d and should inevitably lead to weaker rates. The going rate for FOSFA MR TC trips to MED-Europe-Continent is about 13,500$/d for tonnage with edible cargo history.
Coming to the regional market, the anticipated surge in demand for Ramadan is yet to materialize. This is to say that freight rates to India, MEG and the Red Sea remain very weak with no change during the last couple of weeks. Evidence to this is the 20,000MT shipments to WCI, which are currently trading circa USD 20.00pmt. On the lookout for a positive sign for the coming weeks, the Malaysian palm oil council has announced that it will lower its crude palm export tax to 7% in May, down from 7.5% in April. It remains to see if this reduction will translate into more cargoes in the market.
However, the industry has now a greater issue to deal with going forward. A resolution by the European Parliament, recently called for the EU to phase out by 2020 the use of palm oil and vegetable oils in biodiesel that are allegedly produced in an unsustainable way leading to deforestation. The EU is Malaysia's second-largest export market, accounting for 2,059,207 tonnes of palm oil products in 2016. 30% of this amount is used in biodiesel. In an initial effort to oppose that, Malaysia and Indonesia will send a joint mission to Europe next month to counter the European Union resolution.
The CPP markets have significantly supported rates in the vegetable oil shipments from S. America in the past month. However, this has now cooled off and rates are settling back again, but still remain at overall healthy levels. The going market rate to India for 40,000MT shipments bss 2 load / 2 discharge ports is high USD 30 pmt. Despite the adjustment of rates, supply prospects for Argentina and Brazil are looking positive for the coming months. However, traders have few other issues to face. Apart from excessive projected rainfalls, which are threatening the crops, strikes in Argentina are also on the rise lately. Both events are expected to have a great impact on the supply chain of charterers.
The Black Sea market has remained fairly active, especially on the smaller parcels from 6-12,000MT to Med and Continent. On the other hand, long-haul shipments were fewer for the past month, however, still at healthy freight rates. An active CPP market within Med-Black Sea across the MR and Handy markets resulted to better rates for MRs that loaded sunflower oil from the Black Sea to East since charters had to attract Owners.
Looking into the next months, there is little to expect from the edible oil markets. Unless there is not any extraordinary change in the trade flows, it feels like a long summer ahead.
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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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- The University of Queensland
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
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