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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, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Planning Commission, India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
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