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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, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
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- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
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