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