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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, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
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- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
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