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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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Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
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- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
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