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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, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
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- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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