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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, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
Wednesday, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
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Showing 1861 to 1865 news of total 6871 |
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- Minerals Council of Australia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
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