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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, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
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