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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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Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
Tuesday, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
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- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- MS Steel International - UAE
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
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