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