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