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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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Thursday, 18 May 17
SOUTHEAST ASIA CAN ACCELERATE ACHIEVEMENT OF PARIS AGREEMENT GOALS - WCA
Low emissions coal in Asia reduces more CO2 emissions than renewable investment in Western Europe.
Investing in low emissions coal plants in S ...
Wednesday, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
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- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
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