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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, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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Showing 2021 to 2025 news of total 6871 |
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- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- The University of Queensland
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
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