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Wednesday, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
 As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
Looking towards the East of Suez and in particular the Middle Eastern Clean MRs over the previous week, we notice that quite healthy activity has pushed rates slightly up. This led to short hauls cross MEG at mid-high $100k levels, which translates to a $20k increase from the previous week. Distillates to E. Africa moved up at around WS137 (basis 35,000mt), whereas Naphtha lifts ex-WC India to Japan firmed and settled around WS122 levels. However, deliveries to UK Continent remained at mid $800k levels, which is quite stable.
Quite healthy activity was also noticed in the North Far East clean MR market. Routes from S. Korea to Singapore improved to high $200k levels along with similar trades in Northern Far East short haul voyages. Moreover, the S. Korea to E.C Australia route also firmed at around WS180 (basis 35,000mt) , while if healthy demand resumes this week we might witness even better rates in the Northern Asian trade. On the contrary, South Asia activity softened. More specifically, cross-Singapore traded at around $90k to $95k levels and Singapore to S. China routes are still trading at low-mid $200k levels with tonnage availability not assisting recovery in the sector.
Moving on to the LR market it seems that earnings are still under pressure with charterers gaining additional market control in the past days. TC1 (MEG/Japan) traded at around WS90 levels (basis 75,000mt) and TC5 (MEG/Japan) at around WS97 levels (basis 55,000mt), which translates to a decrease of around WS15 points for both segments in a week’s time. Deliveries to UK Continent for LR2s traded at around $1.3m levels and for LR1s at around $1.05m levels. It is therefore evident that the LR market seems unable to find a stable footing at least until the end of May also taking into consideration the beginning of the Ramadan by the end of this week.
On the other hand the Western clean MR market seems to be more promising over the past week, especially for the lifts ex ARA to Transatlantic voyages, as healthy business volumes together with a few replacements shrunk the tonnage list. Similar to the MRs, Handies also witnessed an upward movement that lead to cross Continent rates at around WS125 levels (basis 35,000mt) and Baltic lifts (basis 30,000mt) being fixed at around WS13- to WS132.5.
Continuing with the Mediterranean market, despite the fact that some action was witnessed over the past week, rates ended the week below WS135 levels, which translates to a decrease of WS5 points compared to previous weeks, with lifts ex Black Sea getting the usual w10 point premium.
Moving on to the Western LR1 marker, things have not been very exciting either, as lack of demand left freights sliding accordingly, with voyages from ARA to West Africa hovering at around WS100 points. Deliveries to the Middle East were at around $1.0m and to Singapore discharge at around $1.3m. The LR2 market also experienced even slower demand compared to previous weeks that led to freights ex ARA to MEG at $1.15m and $1.37m to Singapore discharge, enabling us to assess for a typical naphtha employment from MED to Japan at around $1.6m levels.
To conclude, even though refineries maintenance in the Far East has been completed and reasonably everyone is expecting more action ahead, our expectations remain fairly low especially for the Eastern Market, unless we witness significant signs of recovery on the bigger sizes.
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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Wednesday, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
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Showing 2046 to 2050 news of total 6871 |
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- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Planning Commission, India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
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