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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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- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Planning Commission, India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
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