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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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Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
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- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- The University of Queensland
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
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