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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
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- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Planning Commission, India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
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