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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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Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
Thursday, 18 May 17
SOUTHEAST ASIA CAN ACCELERATE ACHIEVEMENT OF PARIS AGREEMENT GOALS - WCA
Low emissions coal in Asia reduces more CO2 emissions than renewable investment in Western Europe.
Investing in low emissions coal plants in S ...
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- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
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