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Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
 While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East of Suez routes. The Middle East LRs are under considerable pressure, mainly due to the lack of demand. The new 2017 flat rates have created a sort of confusion, which has eventually concluded most of the fixtures on basis PLATTS. However, over the past week, we heard a rumor on TC1 ex MEG to Japan loading min 75,000T at WS 112.5 (about 30WS points down) basis WS 2017. Moreover, distillate deliveries to UK continent traded at $1.9m levels (dropped around $150k) In the meantime, LR1 seems to have bottomed out due to a long tonnage list and a lack of activity which resulted in TC5 WS115 for min 55,000T from MEG to Japan at $1.175m, which translates to $100k less from the previous week for deliveries to UK continent respectively.
On the contrary, MR activity, was not as disappointing and remained quite flexible over the week. Cross MEG cargoes were fixed around low $200k levels, whereas MEG routes to East Africa destinations moved up at around WS190. WCI naphtha lifts to Japan rated at WS165 basis 35,000T and the deliveries to UK continent at very low $1.0m, which looks to be quite stable.
Looking towards the Far East region over the past weeks, we witnessed a softening of the market and a decline in fresh enquires for MR sizes. With S. Korea loading to Singapore destination ending the week at $.385k. Levels (around $15k less than prior weeks). The South Asia market is also getting weaker, which results in tonnage availability becoming more ample and enabling us to comment that the near future does not look bright.
Moving on to the West of Suez regions things are not as exciting as expected as, even though activity was decent enough on paper, the ARA/Transatlantic traded at WS165 levels, basis 37,000T (about 30WS points down from previous fixtures), a number of ballasters from US regions sailed to Europe. This allowed charterers to eventually push rates down and ARA lifts basis 37,000T to West Africa rated at WS180 respectively. Oversupply of tonnage put some pressure on Handies as well. Ice conditions eventually offered some premiums, thus fixtures were concluded at WS180 basis 30,000T ex Baltic to UK Continent. In the Black Sea/Med market, owners managed to reach just shy of WS200 levels, mainly due to weather conditions which caused delays and the Cross Med, ended up at WS175 basis 30,000T.
At the time of this writing, LR owners seem to be getting some much-needed relief, with the recent level of activity keeping the market alive. The LR2 ex ARA to Singapore is at around $2.0m levels and the typical naphtha from Mediterranean to Japan is hovering at about low $2.0m. In the meantime, LR1 is enjoying steady demand coupled with healthy tonnage availability, which has resulted in an increase to ex-UK continent to West Africa at around WS150 basis min 60,000T. ARA to South Asia traded at around $1.65m to $1.70m levels and the usual naphtha has elevated ex Mediterranean ports to Japan at around $1.83m levels respectively, while owners keep asking for higher premiums (about $80k to $100k) due to a poor Asia market.
To conclude, our expectations remain fairly low as far the Eastern Market is concerned when comparing it with the Western Market. The distillates arbitrage from Far East to West does not seem to be helping enough and, as we approach the Chinese New Year, the lack of balance between supply and demand signals a further delayed recovery. The year of the Rooster leaves us with no option other than to hold tight and brace ourselves for a truly challenging market.
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- PTC India Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Planning Commission, India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
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