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Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
 Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. Freight rates in the wet tanker market remained solidly firm and somewhat increasing over the past weeks.
The VLCC TD3 daily is today in excess of $80,000/day, reaching 5 year highs and has improved phenomenally on a y-on-y comparison as around this time last year it was averaging at -$3,000/day. Cargo volumes are at elevated levels with oil production in Saudi Arabia holding at record highs and more crude cargo exports coming out of Iraq’s Basrah. Market expectation is that there is will be an upward trend in VLCC rates in June and it is worth noting that nearly 1 out of 3 VLCC’s taken on T/C during 2015 is being used for storage mostly in the AG, some in Spore, W. Africa & the Med. Suezmaxes were partly assisted by the bullish sentiment of the rising VLCC market and saw the Black Sea-Med TD6 route averaging around $55,000/day during Q12015, which is 70% up from the average during Q12014. Rates for Aframax Tankers are slightly softening over the past month, but the average spot rate is still holding above $25,000/day, with stable activity expected in the short to medium term as well.
Spot earnings for MR tankers are close to $23,500/day while the LR1’s average spot rates are ranging slightly higher at around$25,000/day. LR2’s product tanker rates in the Q12015 averaged the highest for the same period since 2006. These rates have been supported mainly by new refineries in the Middle East, which in turn utilized long haul product exports. Low oil prices have also kept naphtha prices down, making it a competitive alternative to LPG for petrochemical plants feedstock, which ultimately led to strong Asian naphtha imports.
Newbuilding and secondhand prices are also on the rise and in general we are seeing a great volume of transactions on quality modern wet tonnage, as keen buyers appear ready to act on tonnage that could benefit from the strong freight market. More than 105 Secondhand and Resale Tankers of 25.000dwt and above have changed hands since Jan. For the same period we have seen newbuilding orders for more than 130 tankers. The existing tanker orderbook is in excess of 680 vessels, 78% of which is scheduled to be delivered before 2017. At the same time, the healthy returns of the past six months gave tanker owners practically no incentive to send their vessels for scrap. In fact, only 8 large sized tankers went for demo so far in the year, while these where all well above 20 years of age.
According to International Energy Agency (IEA), European oil demand in the first quarter of this year grew at its fastest pace in almost 20 years, increased by 185,000 b/d compared to the Agency’s previous estimates, while low prices and colder weather, were as expected the main reasons behind this strong uptrend. At the same time, China, the world’s second-largest oil consumer behind the United States according to the IEA, is forecasted to consume a little below 12million barrels of oil per day in 2017, with oil consumption doubling since 2004 and oil import dependency up from 30% in 2000 to about 57% in 2014.
So given that oil prices will keep fairing at their lower new normal in the short to medium term, sustaining this way the strong demand for longer, the weight that scheduled deliveries will place on the market is expected to be partly offset, allowing the sector to keep enjoying firm rates with potential of further upside very possible .
By John N. Cotzias
SnP Broker, Intermodal
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
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Showing 3006 to 3010 news of total 6871 |
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- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Planning Commission, India
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