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