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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, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
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