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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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Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Monday, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
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- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
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