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Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
 Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased demand of clean products and increased refining capacity in the Middle East along with stronger global refining margins in Europe, have been boosting product trade to higher levels since the beginning of 2015.
Over the last couple of weeks, the MR market was not that active, which has resulted on softer rates. However, lack of prompt vessels along with some Charterers looking for LR1 tonnage in order to cover their MR cargoes in the MEG, started supporting rates. In brief we assess WCI/JAPAN basis 35kmt naphtha at W147.5-w150 and MEG/UKC jet fuel hovers at $ 1.8k levels, MEG/EAF basis 35kmt at w195 levels, cross MEG high300k-low400k and MEG/Red Sea firm at 900k levels respectively.
Meanwhile the Atlantic slowed down and since last week a surplus of tonnage eventually pushed rates about 10-15 points down across the board due to lack of demand. We assess USG/Europe basis 38kmt at w105 levels, Cont/T-A at w175-w180 levels basis 37kmt and Cont/WAF at w195 respectively. On the other hand, cross UKC Handies remained stable at w205 basis 30kmt. Moving on to the MED, we experience more activity, which is driving rates for cross MED up to w250-260 levels due to tight tonnage lists and allows Owners to push for more.
Owners believe that MR market will further firm up or at least will stay sta-ble, taking under consideration long T/C contracts during the past months, ranging from $17k to mid-high18k levels for 6mos, 1 year or more.
The LR market has witnessed signs of increased activity East of Suez and in the Far East accordingly, which drove the market to remarkable higher levels especially on the LR2 segments. MEG/Japan reached w140 levels basis 75kmt naphtha, MEG/UKC jet fuels reached at $ 3.3m levels and due to tight tonnage we even noticed WAF ballasters sailing towards the MEG in order take advantage of the stronger market there. On the other hand the western LR2 market is also witnessing healthy demand on naphtha from West to East, assessing at $ 3.2m levels loading from UKC to Japan. Unsurprisingly the Far East backhaul cargoes for LR2 jumped to 700k levels for the ex-Korea to Singapore area and to mid-high600k levels for the LR1 respectively.
Despite the semi-tight LR1 tonnage list in the MEG, somehow owners held back expecting a boost on rates as a spillover from the LR2 rally, which eventually was the case. We noticed a progressively increase of about 5 to 10 points basis 55k naphtha for MEG/Japan at w155-160 levels, while jet deliveries to UKC basis 60kmt at 2.7m levels and Korea/UKC assessed at 2.85m respectively.
Over in the West, we also noticed a slower demand over the last week and eventually rates moved down to w140-145 levels for UKC to WAF basis 60kmt and the traditional 60kmt USG to Europe to around w97.5 levels respectively. As we expect more ballasters from USWC or USAC to be attracted to the MEG, it seems that more lucrative rates will be required for cargoes with eastern destination.
In conclusion, the CPP market seems positive in the short term, with expected ups and downs depending on tonnage supply and cargo demand. Taking also under consideration the limited fleet growth for 2015 and the still unresolved situation in both Libya and Iran, it seems that the following few months, healthy rates will keep prevailing in the market.
By George Vastardis
Tanker Chartering Broker
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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Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
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Showing 2806 to 2810 news of total 6871 |
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- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
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