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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, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
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