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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, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
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