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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, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
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$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
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- Anglo American - United Kingdom
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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