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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
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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Showing 2311 to 2315 news of total 6871 |
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
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