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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, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
Tuesday, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
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- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
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