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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
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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Showing 2311 to 2315 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
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