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