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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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Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Tuesday, 28 July 15
INDONESIA DELAYS PLAN TO RAISE COAL ROYALTIES AMID PLUNGING PRICE - JP
The government will postpone a plan to increase royalty payments from coal miners as they are already burdened with the commodity’s plunging ...
Tuesday, 28 July 15
API 5 FOB NEWCASTLE COAL SWAP LOST M-M AND GAINED W-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.15 per MT (-2.51%) month over month to US$ 44.62 per mt. The swap ...
Monday, 27 July 15
KOMIPO INVITES BIDS FOR TOTAL 545,000 MT OF COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase total 545,000 Metric Tons (MT) of coal ...
Monday, 27 July 15
CFR SOUTH CHINA COAL SWAP WEAK M/M; FIRM W/W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.92 (1.77%) per MT month over month.
A commodity swap ...
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Showing 2901 to 2905 news of total 6871 |
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- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Planning Commission, India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
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