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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, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
Wednesday, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
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- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
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- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
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- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
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- Economic Council, Georgia
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- Pendopo Energi Batubara - Indonesia
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- Larsen & Toubro Limited - India
- White Energy Company Limited
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- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
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- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
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- Renaissance Capital - South Africa
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- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
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- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
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- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
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- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
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- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
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- Orica Australia Pty. Ltd.
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- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
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- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
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- Eastern Energy - Thailand
- Goldman Sachs - Singapore
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