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