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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, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- PTC India Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Electricity Authority, New Zealand
- White Energy Company Limited
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
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