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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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Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
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- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Romanian Commodities Exchange
- The University of Queensland
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
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