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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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Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
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- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- The University of Queensland
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
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