yyyyxyyyyyyyyyy research - hellenic shipping news worldwide · &associates mjlf research ......

300 First Stamford PlaceM StamfordM CT 06902 Tel: n1b203b326b2800 Fax: n1b203b977b2164 [email protected] April 27thM 2015 CHARTERING SHIP SALES PROJECT DEVELOPMENT CONSULTING & ASSOCIATES MJLF Research: Court Smith [email protected] n1b203b326b2831 Research Spring MR Surprise MJLF & associates The orderbook for MR tonnage of QEk DWT to '8x8k DWT remains largex EqCQ was an above average year for deliveries( and the marketplace appears to have absorbed this tonnage while maintaining rate volatilityx However( in EqC' many additional units are scheduled to hit the waterx Some of the EqC' orderbook will undoubtedly be pushed into EqC/( but a significant part number of ships are due for delivery this yearx It remains to be seen if the additional refining capacity coming online in the Arabian Gulf( India( and the US can create enough demand for the additional tonnagex The Medium RangeIMRA tanker market continued to surprise in EqC' as rates saw an unexpected bump last weekx The amount of available tonnage in the US Gulf trended down from its peak at the end of March until the second half of last week amid an uptick in cargo volume out of the Statesx US crude inventories remained at unusually high levels( which in turn contributed to higher crack spreadsx With US refineries operating at high levels( more product was available for exportx Rates will start to soften given the spike in available tonnage observed over the past O days( but the prospect for volatility remainsx In EqCQ the summer rate spike showed that any time of the year can bring a surprising level of earningsx However( with oil prices on the rise( time charter equivalentsITCEA will come under pressurex Owners were gifted the benefit of low bunker prices for QC of this year( but there6s no guarantee this will continuex The owners3commercial controllers listed to the left have been active in the US Gulf during the past two weeksx Of these owners( CPTA( Hafnia( NavigN3NavigN Chemical( Scorpio( and Vitol have had the most positions shown in the marketx Source: MJLF Rate bounce is counter seasonal Source: MJLF Source: Clarksons, MJLF

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Page 1: yyyyxyyyyyyyyyy Research - Hellenic Shipping News Worldwide · &associates mjlf research ... falcon frontline german tanker golden energy hafnia heidmar ionia koch latvian moller

3004First4Stamford4PlaceM4StamfordM4CT406902Tel:4n1b203b326b28004Fax:[email protected]

April427thM42015

CHARTERING SHIP SALES PROJECT DEVELOPMENT CONSULTING

&A SSOCIATESMJLF Research: Court4Smith4444444444444444444444444444csmith@mjlf.com444444444444444444444444444n1b203b326b2831

Research

Spring4MR4Surprise

MJLF & associates

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Theyowners3commercialycontrollersylistedytoytheyleftyhaveybeenyactiveyinytheyUSyGulfyduringytheypastytwoyweeksxyOfytheseyowners(yCPTA(yHafnia(yNavigN3NavigNyChemical(yScorpio(yandyVitolyhaveyhadytheymostypositionsyshownyinytheymarketxyyy

Source: MJLF

Rate4bounce4is4counter4seasonal

Source: MJLF

Source: Clarksons, MJLF

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3.1(& - Befaco.org: Build your Modular Synth DIY · fst bmmpx zpv up qspdftt zpvs wpmubhft dpowfsujoh tibsq trvbsf xbwft jo sbnq mjlf xbwfgpsnt 5iftf mpwfmz efwjdft dbo gps jotubodf

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Condensed Consolidated Interim Financial Information Q2 ......Financial –Q2 Time Charter Equivalent (TCE) earnings for Hafnia Limited (the "Company" or "Hafnia", together with its

The present study examines the serum concentrations of IgA and IgM to LPS of gram-negative enterobacteria, i.e. Hafnia Alvei; Pseudomonas Aeruginosa, Morganella