Palm & Veg Report, April 2019

The prospects for a China-US trade resolution are in flux and the calamitous Brexit negotiations have left us all in a permanent state of confusion. The EU also risks opening up a trade war with Malaysia over its grossly unfair policies aimed at reducing the use of palm oil in bio fuel. Notwithstanding all the negative headlines, we are pleased to report that most of the shipping markets that we operate in have had a much more upbeat and positive first quarter. The CPP and chemical markets here in the West and out in the Far East have been extremely lively of late and this has put added pressure on most of the edible oil trade routes. The tropical oil markets have been rather over crowded with time charter and spot cargoes recently, so taking the right decision at the correct time has been very important.

James Woolfson