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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, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
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Showing 1736 to 1740 news of total 6871 |
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- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
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