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