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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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Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
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- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Economic Council, Georgia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- The Treasury - Australian Government
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