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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, 18 May 17
SOUTHEAST ASIA CAN ACCELERATE ACHIEVEMENT OF PARIS AGREEMENT GOALS - WCA
Low emissions coal in Asia reduces more CO2 emissions than renewable investment in Western Europe.
Investing in low emissions coal plants in S ...
Wednesday, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
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- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
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