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