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Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
 With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. Long-haul trades, - namely vegetable oil shipments from South America and the deep-sea MR market from Southeast Asia to Med/Continent - are increasingly active. On the other hand, the demand across the inter-regional palm oil trade lanes has weakened.
The slow pace of enquiry to India and China for palm oils during the year end, has remained evident in the first days of 2015. A small number of car-goes in January and sporadic cargo enquiries already quoted for February, have resulted in increased availability of prompt tonnage and lower freight rates. The rates for Straits/WCI bss 10-12k shipments are between 29-31 US$/pmt and 27-29 US$/pmt bss 10-12k shipments to ECI.
Analysts say that recent major floods in high-producing palm oil areas of Malaysia, the world’s second-largest grower, will take a toll on the country’s outputs and they are likely to fall further. As such, and in view of increased exports due to the upcoming Chinese New Year festivities, we expect the market to experience some activity with a positive effect on freight rates.
While many traders expected hire-rates for long-haul MR trips to fall at the start of the year, the market has proved them wrong. The continuous delays in both new-building scheduled deliveries and ships discharging soft oils in India are the main factors that keep hire rate levels around 20,000-22,000 pd; with the higher rates being attributed to the ‘’ECO-MRs’’.
It is true however, that with a 40-50% drop on bunker prices over the last months, the operational cost advantage is not so evident for the latter, as charterers might end-up with a cheaper solution when taking a ‘’normal MR’’ at a lower hire rate. Finally 33-40,000 shipments to Continent are still earning around low 60 US$/pmt and 55 US$/pmt on voyage bss.
Overall, there has been a fair amount of activity out of South America for soya been oil exports during the start of the year. The driving forces behind this demand have been India and Europe while China has been almost obsolete. While the Atlantic CPP market is slightly cooling off, but still at healthy rates, there might be other ships apart from the non-CPP players and the older candidates, that would look at veg oil out of South America. As such, this might give charterers, the opportunity to push rates back.
The situation ex - Black Sea is similar. While the cross-Med CPP market has slightly softened, it is still far from poor and leaves owners with better earnings than a veg oil voyage. Despite increased activity towards all destinations, Westbound cargoes are preferable especially to ice-class candidates, as the ice-season has arrived; unless you are an Owner with older tonnage or have contractual commitments in the East. In any case, it seems that charterers will not get a very competitive rate, for either taking a higher-spec vessel West or taking a dedicated CPP trader East.
On a last note, it is certain that the continuous drop of bunker and crude oil prices will have a great impact on the shipping markets during 2015 as well. But to what extend this trend will continue translating into higher freight rates, is probably the right question to ask.
By: Stelios Kollintzas
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
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