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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, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
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$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
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Showing 2921 to 2925 news of total 6871 |
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- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Minerals Council of Australia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
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