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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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Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Monday, 15 January 18
QUEENSLAND SHIPPED 210.8 MT OF COAL IN 2017, DOWN 5% YOY QUEENSLAND RESOURCES COUNCIL
Queensland's coal exports over the 12 months reached 210.8 mt which is down 10 mt or 5 per cent from the previous year’s record of 220.8 ...
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Showing 1826 to 1830 news of total 6871 |
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- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
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