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