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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, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
Tuesday, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
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Showing 1706 to 1710 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Australian Coal Association
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
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