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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, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- PTC India Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
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