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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, 24 November 14
CHOPPY WATERS IN DRY BULK - SGX
COALspot.com: Dry bulk freight rates have experienced a sharp rise in volatility in recent weeks as bulk commodity supply has ramped up, said SGX i ...
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SPOT FREIGHT RATES IMPROVED SLIGHTLY OVER PREVIOUS WEEK
COALspot.com: The BDI was up 5.41 pct week on week and closed at 1,324 points on Friday. All the segments were up this week except Panamax index.&n ...
Sunday, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
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- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- PTC India Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
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