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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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Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
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- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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