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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, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
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Showing 2926 to 2930 news of total 6871 |
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- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
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