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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
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