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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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Monday, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
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Showing 3021 to 3025 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- The University of Queensland
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
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