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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, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
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Showing 1816 to 1820 news of total 6871 |
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- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- PTC India Limited - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
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