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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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Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
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