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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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Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- White Energy Company Limited
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
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