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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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Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
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- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- The University of Queensland
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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