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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, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
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- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
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