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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, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
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- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
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