We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from developing nations, looking to replenish their stockpiles. However, another factor could also emerge, with the return of floating storage plays. According to the latest report from shipbroker Charles R. Weber, “following strong crude price losses during late 2008 and early 2009, the $45 emergence of a steep contango in crude futures markets supported a surge in demand for tankers to service floating storage contracts. By 2010, as the $30 wheels of the global economy improved on a return to strong growth in $15 emerging economies, the contango curve became steep enough to support $0 floating storage sufficiently to consume through much of 1H10 upwards of 10% of the global VLCC fleet. This lead to stronger earnings for the class with knock on effects for smaller tanker counterparts as overall availability levels declined”.
According to the shipbroker, “when crude prices started observing losses early during 2H14, the reemergence $60 of a contangoed futures curve reignited consideration of floating storage, but $45 little has materialized as the S/bbl storage costs consistently forward crude spreads. With the global demand/supply imbalance having extended through $30 2H14, the unwillingness by OPEC (or more specifically: a prominent contingent of OPEC’s membership) to react through supply cuts, recent downward $15 revisions by key oil forecasting agencies to demand projections implies that a wider imbalance will materialize during 2015. In its latest report, the IEA notes $0 the imbalance with a corresponding rise in implied steep building up of global crude inventories of relative earnings strength (if below present peak levels). How the crude $80 market develops thereafter will likely dictate the course that tanker earnings take through the remainder of 2015. $60 For its part, support from floating storage remains off the table due to the $40 prohibitively high cost to procure tonnage for such a purpose”.
C.R. Weber noted that “at present assessments, a 6 month floating storage contract off Singapore would equate to $20 a cost ~$5.84/bbl while the spread between Brent’s front month and July contracts stands at $3.72/bbl Further into 2015, however, continued crude price losses which could be inferred by the |EA’s projected widening of the global demand/supply $40 imbalance could lead to crude supply cuts to support prices. Though such a $30 scenario represents a threat to crude tanker demand, a simultaneous correcting of freight markets and steepening of contango curves could create the requisite $20 economics to support floating storage. This would likely place a floor on prospective freight downside while bridging the market to a subsequent $10 rebalancing of crude markets, thus limiting an impact on crude tanker earnings”, the shipbroker concluded.
Meanwhile, in the crude tanker markets this week, in the VLCC segment “rates firmed this week as charterers worked through much of the remainder of the Middle East market’s December program while owners became more bullish in a late reaction to narrower supply/demand fundamentals. Stronger demand in the Middle East market – where the December program has already yielded the most cargoes since the April program and is poised to conclude with the most since the February market – has coincided with a recent demand acceleration in the West Africa market. As both of these areas draw from Middle East positions, the region’s supply/demand positioning is at its narrowest level since 2008 with just 5 surplus positions through end? December dates. With 118 Middle East December cargoes covered to date and the program expected to conclude with 121, the 8 units which remain on position lists to cover the remaining stems appear set to observe premiums to present assessments. How aggressively charterers progress into the January program during the upcoming week will thus likely dictate the direction that rates will take for early January cargoes. Given shortened working weeks during the final two weeks of the year, charterers could reach forward on dates (as the market already is observing) during the upcoming week to cover requirements ahead of the holidays. Against the tight supply/demand profile, this would imply an extending of the present rate rally. Further forward, as the market moves past the first half of the January program and forward fixing windows normalize, the reappearance of units presently on trades to points in the east on Middle East position lists should see rates start to correct”, C.R. Weber concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
|
|
|
Showing 3321 to 3325 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- CNBM International Corporation - China
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
|
| |
| |
|
