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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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Friday, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
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Showing 2316 to 2320 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- White Energy Company Limited
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
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