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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, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
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Showing 2316 to 2320 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Minerals Council of Australia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
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