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Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
 While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East of Suez routes. The Middle East LRs are under considerable pressure, mainly due to the lack of demand. The new 2017 flat rates have created a sort of confusion, which has eventually concluded most of the fixtures on basis PLATTS. However, over the past week, we heard a rumor on TC1 ex MEG to Japan loading min 75,000T at WS 112.5 (about 30WS points down) basis WS 2017. Moreover, distillate deliveries to UK continent traded at $1.9m levels (dropped around $150k) In the meantime, LR1 seems to have bottomed out due to a long tonnage list and a lack of activity which resulted in TC5 WS115 for min 55,000T from MEG to Japan at $1.175m, which translates to $100k less from the previous week for deliveries to UK continent respectively.
On the contrary, MR activity, was not as disappointing and remained quite flexible over the week. Cross MEG cargoes were fixed around low $200k levels, whereas MEG routes to East Africa destinations moved up at around WS190. WCI naphtha lifts to Japan rated at WS165 basis 35,000T and the deliveries to UK continent at very low $1.0m, which looks to be quite stable.
Looking towards the Far East region over the past weeks, we witnessed a softening of the market and a decline in fresh enquires for MR sizes. With S. Korea loading to Singapore destination ending the week at $.385k. Levels (around $15k less than prior weeks). The South Asia market is also getting weaker, which results in tonnage availability becoming more ample and enabling us to comment that the near future does not look bright.
Moving on to the West of Suez regions things are not as exciting as expected as, even though activity was decent enough on paper, the ARA/Transatlantic traded at WS165 levels, basis 37,000T (about 30WS points down from previous fixtures), a number of ballasters from US regions sailed to Europe. This allowed charterers to eventually push rates down and ARA lifts basis 37,000T to West Africa rated at WS180 respectively. Oversupply of tonnage put some pressure on Handies as well. Ice conditions eventually offered some premiums, thus fixtures were concluded at WS180 basis 30,000T ex Baltic to UK Continent. In the Black Sea/Med market, owners managed to reach just shy of WS200 levels, mainly due to weather conditions which caused delays and the Cross Med, ended up at WS175 basis 30,000T.
At the time of this writing, LR owners seem to be getting some much-needed relief, with the recent level of activity keeping the market alive. The LR2 ex ARA to Singapore is at around $2.0m levels and the typical naphtha from Mediterranean to Japan is hovering at about low $2.0m. In the meantime, LR1 is enjoying steady demand coupled with healthy tonnage availability, which has resulted in an increase to ex-UK continent to West Africa at around WS150 basis min 60,000T. ARA to South Asia traded at around $1.65m to $1.70m levels and the usual naphtha has elevated ex Mediterranean ports to Japan at around $1.83m levels respectively, while owners keep asking for higher premiums (about $80k to $100k) due to a poor Asia market.
To conclude, our expectations remain fairly low as far the Eastern Market is concerned when comparing it with the Western Market. The distillates arbitrage from Far East to West does not seem to be helping enough and, as we approach the Chinese New Year, the lack of balance between supply and demand signals a further delayed recovery. The year of the Rooster leaves us with no option other than to hold tight and brace ourselves for a truly challenging market.
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
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- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
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