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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, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
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- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
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- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
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- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
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- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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