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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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Monday, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
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Showing 3021 to 3025 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
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