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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, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
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- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Economic Council, Georgia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
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