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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, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
Wednesday, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
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- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
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