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