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