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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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Thursday, 12 July 18
SUPRAMAX: INDO/CHINA COAL RV IS BEING FIXED AROUND USD 10500 BSS SINGAPORE - FEARNLEYS
Capesize
Cape market continue to be extremely volatile says Fearnleys in its latst weekly report.
The further noted that, last week ended wi ...
Tuesday, 10 July 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
The trade dispute saga continued over the past week, as new tariffs were put into force on Friday in both the U.S. and China and have already taken ...
Tuesday, 10 July 18
SUPPORTING SULPHUR 2020 CONSISTENT IMPLEMENTATION - IMO
An IMO working group is meeting (9-13 July) to develop guidelines to support the consistent implementation of the 0.50% limit for the sulphur conte ...
Monday, 09 July 18
RISING COAL PRICES LIFTING AUSTRALIA'S EXPORT REVENUES BUT INVESTORS STAYING AWAY - NEWCASTLE HERALD
Newcastle coal prices have risen more than 40 per cent in a year to be at their highest levels for seven years but the industry is becoming increas ...
Saturday, 07 July 18
SUPRAMAX: THE ASIAN MARKET STRUGGLED; A 57K-DWT WAS REPORTED FIXED BASIS DELIVERY SINGAPORE FOR A TRIP VIA INDONESIA REDELIVERY INDIA AT $12K
Capesize
A punchy week for the big ships that saw Atlantic rates soar, with the tonnage list tight prompting charterers to split cargoes, thoug ...
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Showing 1671 to 1675 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Ministry of Mines - Canada
- White Energy Company Limited
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
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