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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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Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- White Energy Company Limited
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
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