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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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Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
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- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Minerals Council of Australia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
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