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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, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
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- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
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