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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, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
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