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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, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
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- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Australian Coal Association
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
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