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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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Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
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- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
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