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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, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Wilmar Investment Holdings
- The University of Queensland
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
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