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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Parliament of New Zealand
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
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