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Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
 Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. Freight rates in the wet tanker market remained solidly firm and somewhat increasing over the past weeks.
The VLCC TD3 daily is today in excess of $80,000/day, reaching 5 year highs and has improved phenomenally on a y-on-y comparison as around this time last year it was averaging at -$3,000/day. Cargo volumes are at elevated levels with oil production in Saudi Arabia holding at record highs and more crude cargo exports coming out of Iraq’s Basrah. Market expectation is that there is will be an upward trend in VLCC rates in June and it is worth noting that nearly 1 out of 3 VLCC’s taken on T/C during 2015 is being used for storage mostly in the AG, some in Spore, W. Africa & the Med. Suezmaxes were partly assisted by the bullish sentiment of the rising VLCC market and saw the Black Sea-Med TD6 route averaging around $55,000/day during Q12015, which is 70% up from the average during Q12014. Rates for Aframax Tankers are slightly softening over the past month, but the average spot rate is still holding above $25,000/day, with stable activity expected in the short to medium term as well.
Spot earnings for MR tankers are close to $23,500/day while the LR1’s average spot rates are ranging slightly higher at around$25,000/day. LR2’s product tanker rates in the Q12015 averaged the highest for the same period since 2006. These rates have been supported mainly by new refineries in the Middle East, which in turn utilized long haul product exports. Low oil prices have also kept naphtha prices down, making it a competitive alternative to LPG for petrochemical plants feedstock, which ultimately led to strong Asian naphtha imports.
Newbuilding and secondhand prices are also on the rise and in general we are seeing a great volume of transactions on quality modern wet tonnage, as keen buyers appear ready to act on tonnage that could benefit from the strong freight market. More than 105 Secondhand and Resale Tankers of 25.000dwt and above have changed hands since Jan. For the same period we have seen newbuilding orders for more than 130 tankers. The existing tanker orderbook is in excess of 680 vessels, 78% of which is scheduled to be delivered before 2017. At the same time, the healthy returns of the past six months gave tanker owners practically no incentive to send their vessels for scrap. In fact, only 8 large sized tankers went for demo so far in the year, while these where all well above 20 years of age.
According to International Energy Agency (IEA), European oil demand in the first quarter of this year grew at its fastest pace in almost 20 years, increased by 185,000 b/d compared to the Agency’s previous estimates, while low prices and colder weather, were as expected the main reasons behind this strong uptrend. At the same time, China, the world’s second-largest oil consumer behind the United States according to the IEA, is forecasted to consume a little below 12million barrels of oil per day in 2017, with oil consumption doubling since 2004 and oil import dependency up from 30% in 2000 to about 57% in 2014.
So given that oil prices will keep fairing at their lower new normal in the short to medium term, sustaining this way the strong demand for longer, the weight that scheduled deliveries will place on the market is expected to be partly offset, allowing the sector to keep enjoying firm rates with potential of further upside very possible .
By John N. Cotzias
SnP Broker, Intermodal
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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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$ ...
Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
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Showing 2986 to 2990 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
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