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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, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
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- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Planning Commission, India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
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