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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, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
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