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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, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
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