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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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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
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