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