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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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Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
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- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
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