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Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
 We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the past week both the Med and Black Sea regions have been quite active, with handy owners keeping the sentiment positive due to replacement business along with fresh enquiries that are currently assessed at w132 levels bss 30kmt however with 2.5 ws points ex Black Sea cargoes.
The Continent market on the other hand , despite being at w137 levels two weeks ago for UKCont/USAC bss 37kmt, has eventually lost its strength and now we assess it at below w120 levels. The sentiment however is expected to improve due to fresh cargoes in the market although there is a possibility that the US upcoming Thanksgiving holiday could negatively affect the market. In the meantime, USG rates have again rallied and both the short-haul voyage and southbound destination to Brazil or Argentina seem steady and optimistic.
Furthermore, it should be noted that the market seems to cooling down following two strong weeks which begs the question whether demand will stay strong in the following days. Things over at the MEG Clean MR market have at the same time remained at quite decent levels with MEG/UKCont assessed at USD low 1m showing no significant change from last week.
As far as the Far East market is concerned, we can say that it remains slow with backhaul cargos ex N. Asia to SE. Asia at USD high300k-low400k levels and, seeing that arbitrages from the far east to western destinations remain closed, we are not very optimistic that market will recover any time soon.
Moving on to LR1/2 tonnage, the news coming from the MEG and Far East markets have not been exciting, as over the past weeks charterers pushed rates considerably down, with the MEG/Japan run bss75kmt Naphtha and the MEG/Japan bss55ktons Naphtha dropping to WS69 and WS82 respectively, while deliveries to UKCont on LR2 bss90kmt concluded over the last week at USD high 1m levels and for LR1 bss 60kmt at USD mid1m levels respectively.
There have only been a few deals that have been concluded over the past week, and with a lack of enquiries from charterers both the LR1 and LR2 segments have remained stably soft. It seems like the only viable solution for owners is to ballast to the West since there is no sign of improvement in the Eastern market yet. Having said that Western /LR2 tonnage list continuing thinning and owners confidence consequently improving.
Currently we assess for LR1 ARA/WAF about w130 levels and a continued interest in moving cargoes from the West to the East against a very tight LR2 tonnage list is pushing charterers to look smaller sizes to a larger degree and eventually keep sentiment optimistic.
In conclusion, as far as the eastern market is concerned, our expectations remain fairly low. Despite the fact that people have already returned to their desks from the Dubai week, the tonnage list is still big enough and this remains a charterer’s market. On the other hand with a tight tonnage list/uncertain western positions and due to seasonality, we believe that the western market will continue to slowly but steadily improve
By George Vastardis
Tanker Chartering Broker - CPP Desk
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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Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
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- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
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