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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, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
Monday, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
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- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
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