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Wednesday, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
 As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
Looking towards the East of Suez and in particular the Middle Eastern Clean MRs over the previous week, we notice that quite healthy activity has pushed rates slightly up. This led to short hauls cross MEG at mid-high $100k levels, which translates to a $20k increase from the previous week. Distillates to E. Africa moved up at around WS137 (basis 35,000mt), whereas Naphtha lifts ex-WC India to Japan firmed and settled around WS122 levels. However, deliveries to UK Continent remained at mid $800k levels, which is quite stable.
Quite healthy activity was also noticed in the North Far East clean MR market. Routes from S. Korea to Singapore improved to high $200k levels along with similar trades in Northern Far East short haul voyages. Moreover, the S. Korea to E.C Australia route also firmed at around WS180 (basis 35,000mt) , while if healthy demand resumes this week we might witness even better rates in the Northern Asian trade. On the contrary, South Asia activity softened. More specifically, cross-Singapore traded at around $90k to $95k levels and Singapore to S. China routes are still trading at low-mid $200k levels with tonnage availability not assisting recovery in the sector.
Moving on to the LR market it seems that earnings are still under pressure with charterers gaining additional market control in the past days. TC1 (MEG/Japan) traded at around WS90 levels (basis 75,000mt) and TC5 (MEG/Japan) at around WS97 levels (basis 55,000mt), which translates to a decrease of around WS15 points for both segments in a week’s time. Deliveries to UK Continent for LR2s traded at around $1.3m levels and for LR1s at around $1.05m levels. It is therefore evident that the LR market seems unable to find a stable footing at least until the end of May also taking into consideration the beginning of the Ramadan by the end of this week.
On the other hand the Western clean MR market seems to be more promising over the past week, especially for the lifts ex ARA to Transatlantic voyages, as healthy business volumes together with a few replacements shrunk the tonnage list. Similar to the MRs, Handies also witnessed an upward movement that lead to cross Continent rates at around WS125 levels (basis 35,000mt) and Baltic lifts (basis 30,000mt) being fixed at around WS13- to WS132.5.
Continuing with the Mediterranean market, despite the fact that some action was witnessed over the past week, rates ended the week below WS135 levels, which translates to a decrease of WS5 points compared to previous weeks, with lifts ex Black Sea getting the usual w10 point premium.
Moving on to the Western LR1 marker, things have not been very exciting either, as lack of demand left freights sliding accordingly, with voyages from ARA to West Africa hovering at around WS100 points. Deliveries to the Middle East were at around $1.0m and to Singapore discharge at around $1.3m. The LR2 market also experienced even slower demand compared to previous weeks that led to freights ex ARA to MEG at $1.15m and $1.37m to Singapore discharge, enabling us to assess for a typical naphtha employment from MED to Japan at around $1.6m levels.
To conclude, even though refineries maintenance in the Far East has been completed and reasonably everyone is expecting more action ahead, our expectations remain fairly low especially for the Eastern Market, unless we witness significant signs of recovery on the bigger sizes.
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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- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
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