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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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Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
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- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
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