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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, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
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