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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, 16 November 15
KOMIPO INVITES BIDS FOR 1.295 MILLION TONS OF BITUMINOUS COAL FOR Q1 - Q2'16
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,295,000 Metric Tons (MT) of minimum 4,600 kc ...
Monday, 16 November 15
SOUTH CHINA COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.05 (12.59%) per ton month over month.
A commodity swa ...
Monday, 16 November 15
CLARKSEA INDEX COMPETITION: IS IT ALL IN THE TIMING? - CLARKSONS
Readers of the Shipping Intelligence Weekly are invited each year to predict the value of the ClarkSea Index one year ahead in the first week of No ...
Monday, 16 November 15
DRY BULK MARKET: Q1' 2016 SHAPING UP TO BE A ' DISASTROUS' ONE OF PROJECTED LOWER IRON ORE IMPORTS FROM CHINA
Over the course of the past year or so, it’s been the drop of coal imports from China, which has had a detrimental effect on the course of dr ...
Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
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- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
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