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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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- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- The University of Queensland
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- CNBM International Corporation - China
- Planning Commission, India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
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