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