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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, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
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