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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, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
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- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
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