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Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
 Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure and have significantly been declining since Q3 of 2017 as a result of demand-supply imbalance. Lately, Brent crude oil has hit a 3-year high evidence that OPEC’s policy for supply cuts is supporting prices. Forecasts for 2018 indicate elevated oil demand that might lead to healthier tanker rates, subject to a number of other factors as well.
IEA forecasts global crude oil demand to rise by 1.3% mainly on the back of increased imports by China and India. China’s crude oil imports increased by 800,000 bpd in 2017, representing 50% of the global oil demand growth. China’s domestic oil demand continues to grow, while inland output is respectively descending. IEA projects China’s oil import dependence to rise to 80% by 2040. Additionally, India’s crude oil demand is increasing rapidly, with the country’s import dependence reaching 82% last year. India’s imports from OPEC’s countries declined during 2017, while total imports from non OPEC producers such as US, Canada, Russia and Kazakhstan significantly increased. BP projects the country’s energy demand to rise faster than any other major economy between now and 2035. India’s oil consumption averaged 4.6 million bpd in 2017 and it is projected that the country’s crude oil demand will increase 4.3% in 2018.
It is reported that OPEC will maintain output cuts, while demand continues to grow in 2018. Non-OPEC production is estimated to grow by 1.3 million bpd, with most of it sourced from the US, paving the way for significant ton-mile demand gains, as the USG to Asia represents one of the longest hauls possible. US exports have already started to increase, a trend which is probable bound to continue as OPEC sticks to current production levels. Asian refineries have already increased their oil orders from the Caribbean and Gulf of Mexico. Concurrently, the trouble in Venezuela could discourage ton-mile growth as Europe and Asia are important consumers of Venezuelan crude and exports to these regions represent one of the longest hauls. Therefore, as US exports continue to grow, much of this benefit may be offset by declining long haul routes out of Venezuela.
When prices trended lower in past years, inventories built up and demand for storage spiked. Respectively, such demand diminished as inventories reached peak levels and storage became rarer. Nowadays, we are in the downward phase of this cycle almost after 5 years, as inventories are being utilized. Once inventory capacities return to more manageable levels, in line with historical averages, this would allow trade flows to stabilize, which could be a sort of tailwind for the crude tanker market once it all plays out. Of course the tanker deliveries that are schedule for this year, estimated at around 10.7 million dwt, as far as crude carriers are concerned, will most probably offset part of this expected upside.
A healthier crude market is expected in 2018, with analysts anticipating most of the upside to take place closer to the end of the year. As discussed, various supply-demand essentials may disturb the trade patterns and as always numerous of currently unknown risks could also present themselves during the year. Undoubtedly it looks like all of these trends will require close monitoring in the year ahead.
By Katerina Restis
Tanker Chartering
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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Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
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Showing 1611 to 1615 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
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