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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, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
Wednesday, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
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- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
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