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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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Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- White Energy Company Limited
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
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