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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, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
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- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- The University of Queensland
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
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