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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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- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Australian Coal Association
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
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