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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, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
Wednesday, 10 June 15
WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - JAKARTA POST
Energy and Mineral Resources Minister Sudirman Said has said the world’s coal market is heading towards a new balance, which will make Indone ...
Wednesday, 10 June 15
FOB INDONESIA COAL SWAP ROSE W-O-W AND M-O-M
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and week over week, this past week.
The Q3 swap was climbed by $ ...
Tuesday, 09 June 15
GLOBALCOAL IMPLEMENTS VOLUMETRIC SIZE LIMITS IN RICHARDS BAY MARKET
COALspot.com: globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys R ...
Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
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- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
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