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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, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
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Showing 1836 to 1840 news of total 6871 |
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- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
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