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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, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
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- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
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