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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, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
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Showing 2046 to 2050 news of total 6871 |
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- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
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