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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, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
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- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Australian Coal Association
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
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