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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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Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
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Showing 2821 to 2825 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
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