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Wednesday, 10 June 15
TANKER MARKET INSIGHT - STELIOS KOLLINTZAS
 As we go through the end of the 2nd quarter of the year it is evident that the tanker shipping markets have been rewarding and definitely been showing a lot more promise compared to other sectors. Even now that new deliveries are hitting the water fast, the market has been able to absorb the extra tonnage either in long term contracts or in the spot market. The edible oil market has also had its stake on that by employing a handful of tonnage. In fact, lately it has been a lot livelier both out of S. America and out of SE Asia.
As far as the palm oil regional market is concerned, the 2nd quarter of the year has offered much more enquiry than the first. This is to point out that the implementation of 0% export tax on Malaysian crude palm oil in May and June have had a positive impact as buyers have been taking advantage of the tax-free cargoes out of the country boosting the shipments in both India and Europe. At the time of writing the regional market remains steady on healthy levels with a slight cooling-off. Most of second half June enquiries are already covered, while July quotes are already in the market. It remains to be seen if July will follow the same strong trend, while Indonesian export taxes are expected to be reinstated back in August. On the long-haul trade now, the youngest ECO-MR Ships are traded between 22,000 USD - 23,000 USD pd , while older tonnage can earn as much as 20,000 USD pd for a trip to MED,UKC or USA which lasts 45-120 days. The critical factor for owners profit margin though, namely the 380 bunker price -now at abt 355USD/pt - has recently shown an overall upward trend causing concerns.
In the last month we have seen a very healthy number of vessels fixed for vegetable oils out of South America and an even greater figure of soya-bean oil crop, climbing to around 500.000t. While we expected the increased production to accommodate more ships on the trade, strikes and groundings have resulted in big line-ups. As such, it seems that it will take more time for the current output to be deployed, while we expect more cargoes in the coming weeks. Given the current activity along with a firm CPP mkt in the Atlantic basket, freight rates have levelled at around 44-45 USD/pmt basis 2/2 ports, while rates for CIQ positions destined to CHINA are in the 50s for 40,000mtons of cargo. Probably though, the best earners are the Iran candidates, which have also been very much in the frame during last month, earning USD low-mid 70s bss 30,000mtons. Going forward, rates will once again be dictated by the western CPP market and how it will move during the usually slower summer months.
Lastly, Black Sea exports have seen little change in export volumes the last month, with a relatively low number of fixtures. It is evident that the difference amongst the Sunflower oil and the 120 USD cheaper South American soya-bean oil has shifted importer’s demand to the most favorable origin. The current shift is expected to be greater the coming weeks as soya-bean oil prices are expected to sustain their competitive selling price. Only a few larger stems of up to 30,000mtons looking at India and Iran have drawn some attention, while smaller cargoes of 6-7,000mtons have given little excitement with charterers choosing among several loaders.
It is worth noting that trade volumes are expected to further increase in the next few years, primarily driven by higher consumption of edible oils in emerging economies, in particular China and India. While palm oil exports represents approximately two thirds of global edible oil exports, vegetable oil seaborne trade volumes have been growing remarkably. The good part for the our industry is that exporters rely primarily on shipping for exporting and total trade figures are fairly translated in actual seaborne trade figures.
By Stelios Kollintzas
Specialized Products Chartering
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.
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Thursday, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
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- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
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