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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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Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
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- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Australian Coal Association
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
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