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Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
 We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the past week both the Med and Black Sea regions have been quite active, with handy owners keeping the sentiment positive due to replacement business along with fresh enquiries that are currently assessed at w132 levels bss 30kmt however with 2.5 ws points ex Black Sea cargoes.
The Continent market on the other hand , despite being at w137 levels two weeks ago for UKCont/USAC bss 37kmt, has eventually lost its strength and now we assess it at below w120 levels. The sentiment however is expected to improve due to fresh cargoes in the market although there is a possibility that the US upcoming Thanksgiving holiday could negatively affect the market. In the meantime, USG rates have again rallied and both the short-haul voyage and southbound destination to Brazil or Argentina seem steady and optimistic.
Furthermore, it should be noted that the market seems to cooling down following two strong weeks which begs the question whether demand will stay strong in the following days. Things over at the MEG Clean MR market have at the same time remained at quite decent levels with MEG/UKCont assessed at USD low 1m showing no significant change from last week.
As far as the Far East market is concerned, we can say that it remains slow with backhaul cargos ex N. Asia to SE. Asia at USD high300k-low400k levels and, seeing that arbitrages from the far east to western destinations remain closed, we are not very optimistic that market will recover any time soon.
Moving on to LR1/2 tonnage, the news coming from the MEG and Far East markets have not been exciting, as over the past weeks charterers pushed rates considerably down, with the MEG/Japan run bss75kmt Naphtha and the MEG/Japan bss55ktons Naphtha dropping to WS69 and WS82 respectively, while deliveries to UKCont on LR2 bss90kmt concluded over the last week at USD high 1m levels and for LR1 bss 60kmt at USD mid1m levels respectively.
There have only been a few deals that have been concluded over the past week, and with a lack of enquiries from charterers both the LR1 and LR2 segments have remained stably soft. It seems like the only viable solution for owners is to ballast to the West since there is no sign of improvement in the Eastern market yet. Having said that Western /LR2 tonnage list continuing thinning and owners confidence consequently improving.
Currently we assess for LR1 ARA/WAF about w130 levels and a continued interest in moving cargoes from the West to the East against a very tight LR2 tonnage list is pushing charterers to look smaller sizes to a larger degree and eventually keep sentiment optimistic.
In conclusion, as far as the eastern market is concerned, our expectations remain fairly low. Despite the fact that people have already returned to their desks from the Dubai week, the tonnage list is still big enough and this remains a charterer’s market. On the other hand with a tight tonnage list/uncertain western positions and due to seasonality, we believe that the western market will continue to slowly but steadily improve
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
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- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
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