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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, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
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SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
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- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
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