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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, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
Monday, 11 May 15
API 5 FOB NEWCASTLE COAL SWAP; INCREASED M-O-M; DECLINED W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.62 per MT (1.41%) month over month and lost US$ 0.88 week on w ...
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Showing 3026 to 3030 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Planning Commission, India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
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