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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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Thursday, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
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- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
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