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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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Monday, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
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Showing 3021 to 3025 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Marubeni Corporation - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
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