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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, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
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- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- White Energy Company Limited
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
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