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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, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
Wednesday, 29 November 17
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
In line with most expectations for the end of this month, during the past days the Dry Bulk market realized a significant rebound that sent the BDI ...
Tuesday, 28 November 17
THE DRY BULK MARKET HAS SHOWN A REMARKABLE RECOVERY THIS YEAR - GEORGE LAZARIDIS
The Dry Bulk market has shown a remarkable recovery this year with the average earnings having increased by around 63% this year so far compared to ...
Friday, 24 November 17
U.S. PRODUCED 14.9 MMST FOR THE WEEK ENDING NOV 18; UP 0.9% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 23 November 17
PANAMAX: ANOTHER SLOW AND UNEVENTFUL WEEK; DECREASING FREIGHT RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
A quiet start to the week. USG closed last week a bit tighter, and continued into the new week on a positive tone with little concluded, ...
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Showing 1866 to 1870 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
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