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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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Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
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