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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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Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
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Showing 1726 to 1730 news of total 6871 |
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- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- White Energy Company Limited
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Lanco Infratech Ltd - India
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