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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, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
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$ 0.2 ...
Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
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- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
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