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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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- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
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- Eastern Energy - Thailand
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- Rio Tinto Coal - Australia
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- Electricity Generating Authority of Thailand
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- Alfred C Toepfer International GmbH - Germany
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- Australian Coal Association
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- The Treasury - Australian Government
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- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
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- Ministry of Transport, Egypt
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- Central Electricity Authority - India
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- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
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- Wilmar Investment Holdings
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- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
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- Global Business Power Corporation, Philippines
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- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
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- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
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- Ministry of Mines - Canada
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- Planning Commission, India
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- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
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- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
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- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
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- Petron Corporation, Philippines
- Marubeni Corporation - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
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