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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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- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- The University of Queensland
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
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