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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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Tuesday, 23 June 15
FOB RICHARDS BAY COAL SWAP HAS REMAINED STEADY OVER THE PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 2.32 ...
Monday, 22 June 15
BORYEONG POWER PLANT TO IMPORT 140K MT OF LCV COAL FOR AUGUST - SEPTEMBER 2015
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase 140K Metric Tons (MT) of LCV coal for ...
Monday, 22 June 15
CFR SOUTH CHINA COAL SWAP: UP MONTH OVER MONTH; DOWN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.30 (0.58%) per MT month over month.
A commodity swap is a ...
Monday, 22 June 15
FOB NEWCASTLE COAL SWAP: UP WEEK OVER WEEK AND MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.54 per MT (1.19%) month over month to US$ 45.87 per mt. The swap was ...
Sunday, 21 June 15
SPOT RATE AVERAGES FOR FREIGHT FROM INDONESIA TO INDIA REMAIN STRONG THIS WEEK
COALspot.com: The freight market was quite firm this week compared to last week. The BDI was up 21% week on week and closed at 779 points. The cape ...
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Showing 2961 to 2965 news of total 6871 |
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- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
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