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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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Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
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- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
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