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