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