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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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Wednesday, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
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- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- The University of Queensland
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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