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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, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
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- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
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