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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, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- GMR Energy Limited - India
- The Treasury - Australian Government
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
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