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