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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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Tuesday, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
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Showing 1926 to 1930 news of total 6871 |
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- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- PTC India Limited - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
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