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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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Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- PTC India Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
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