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Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
 The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity are seasonality, increased stocks and wet and dry weather conditions in the west and east respectively. While S. America activity has already been ‘’hit’’ by the summer seasonal cool-off, effects of El Nino are still evident on the palm oil exports from SE Asia. Needless to say that the impact of this has resulted in long lists of ships available and has pushed freight rates down to new lows. In the meantime, the CPP market in both the Atlantic and the Pacific has not provided support to Owners looking to escape the dull palm and vegetable oil market and has further extended their feeling of uncertainty.
Against Owners’ expectations, the traditional increase of demand before and after the Ramadan has failed to materialize this year. India and Pakistan, the main demand sources, have been very slow, while Europe and China have also been weak. However, the Middle East and Red Sea markets have experienced healthier activity, still not enough to absorb the ample tonnage around though. Palm oil shipments have been 8.5% lower in June compared to May, forcing a number of Owners to heavily compete for each cargo that becomes available in the market. Hire rates during the past month for the usual long haul MR TC Trip to Med-Continent-USA bss delivery at charterer's preferred load port, have dropped from $16,500 to $15,000 per day at the time of writing, the lowest fixing levels in a long time. As far as the regional SE Asia market is concerned, there has been a slight increase of cargoes quoted as charterers look to replenish their stocks, but overall the market is still far from achieving a balance.
After many months of a rather firm market, freight rates on the edible trade lanes from S. America have softened. Having been the strong leg on the triangulation trade for the dedicated on the edible oil market Owners, it has finally followed the rest of the routes on the downside. This is mainly the result of a sharp decrease in Indian demand, which has been traditionally the main destination of vegetable oils from S. America. However, the recent boost of CPP imports into Argentina has led many ships in the area, building as a result a long tonnage list and causing great supply/demand imbalance. On the other hand, there are serious delays on discharging those ships, which causes increased concern to Owners and Charterers that aim to get ships with firm itineraries. With ample tonnage available we do not expect MR veg oil freight rates to firm over the next few weeks. In fact, it is possible that they will soften further. At the moment, the rate for 40k mtons of cargo to India is about USD 36-38 pmt bss 2/2.
The outlook for the Black Sea/Med market is not very different compared to the previous months. Once again, activity is low and it is mostly small parcels that move around. However, there is better luck for FOSFA accepted vessels which are still in demand and able to negotiate better numbers. Despite the slow market, rates have been stable with the usual route to India on 12,000 tons fixing around $ mid/high 50s pmt bss 1/2.
As the summer months roll on, signs of recovery to 2015 levels remain scarce. More likely, palm oil exports/freight rates to India will remain slow until the next festive season of Diwali in October, as for rates ex-S. America things are more complicated, with Atlantic basket CPP fundamentals most likely being the key factor behind the performance of the market there.
By Stelios Kollintzas
Tanker Chartering - Specialized Products Desk
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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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
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