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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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Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
Wednesday, 30 May 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
Among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced ...
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscieleck ...
Tuesday, 29 May 18
INDIA'S COAL IMPORT DECLINES IN APRIL AMID DIVERSION TO THERMAL POWER PLANTS - PTI
India’s coal import fell by 9 percent to 17.32 million tonnes (MT) in April on the back of ample supply of dry fuel from domestic sources.
...
Monday, 28 May 18
COAL SUPPLY DIVERSION IRKS INDUSTRIES DEPENDENT ON CAPTIVE POWER PLANTS - HINDU BUSINESS LINE
The government’s move to prioritise coal supplies to power plants with minimal coal stock has disrupted fuel supply to some sectors, which ha ...
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Showing 1711 to 1715 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
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