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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, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
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- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
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