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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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Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
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