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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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Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
Monday, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
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- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
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