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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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Thursday, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
Tuesday, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
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- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
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