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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, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
Friday, 22 May 15
FOB INDONESIA COAL Q3'15 SWAP FINISHED THE WEEK UP 38 CENTS TO $43.65 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, past week.
The Q3 swap was declined US$ ...
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Showing 3006 to 3010 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- VISA Power Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
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