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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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Friday, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would h ...
Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
Handy
We are experiencing an oversupply of tonnage in the Atlantic which is out numbering the amount of cargoes, Fearnleys broker says in its lat ...
Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
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- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
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