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Tuesday, 26 June 18
A SHARP RISE IN THE PRICE OF CRUDE OIL WAS TO BE SEEN ON FRIDAY, ITS BIGGEST DAILY GAIN IN TWO YEARS - GEORGE LAZARIDIS
 A sharp rise in the price of crude oil was to be seen on Friday, its biggest daily gain in two years, as OPEC reached a deal to raise output. Despite the fact that the deal that has been in the works for some time now with the purpose of cooling down the recent hike in prices, many seemed to be relieved by the announcement, feeling that the increase in production did not go as far as most had anticipated and that most of the of the rise will be going partly to compensate for production outages in countries such as Venezuela, says George Lazaridis Head of Research & Valuations of Allied in his latest weekly report.
He further noted that, the production increase is roughly said to reach up to 1 million barrels a day collectively, while Russia is also onboard with the decision. Prices have cooled off slightly today from their high point on Friday, while at the same time we have been seeing a fair number of speculators cutting back on their bullish bets on crude, pushing crude oil futures and options to their lowest point in nearly eight months.
According to George Lazaridis, this announcement for an increase in oil production levels comes at a point when the tanker market seems to be finally finding some stability. Rates managed to show some considerable improvement over the past week, especially for the larger Vessels and Suezmaxes, while it looks as though there could be some further improvement insight before we even start to see the production hikes take shape.
At the same time, he said, it is important to note the developments we have seen in the crude oil tanker fleet since the start of the year. Over the course of the year the fleet has stayed relatively on par having decreased by 1 vessel or 0.04%. For comparison, during the same time frame back in 2017 the fleet growth rate had reached 3.27%, while it finally closed off the year with a rate of increase of 4.23%. Given that the second half of the year is expected to go much the same way in terms of fleet development as what we have witnessed during the first half, we should be set for a fair rebalancing between demand and supply in the market. Adding to the mix this recent increase in production and the boost in trade it could drive given the fact that it comes at a time of rising global demand, we should see a fair improvement in trade volumes over the coming months.
This should translate into a fair strong growth rate for trade for the year as a whole, while it goes without saying that most of this increase is to be noted over the next six months which should mean for a fair improvement in the freight market for crude oil tankers.
George Lazaridis says, however, it hasn’t been all great news of late. One of the most promising developments of late, namely the increasing trade flows that have been witnessed between the US and Far East could be set for a major setback. The recent trade friction between the US and a number of its trading partners in the Far East does leave for a possibility of serious retaliatory action, something that could well take the form of a cutting back of crude oil imports from the US. Albeit those volumes from the US are still relatively small compared to the total global trade, their tonne-mile effect is worth taking note. At the same time, given the drop in crude oil prices that should in theory take place from this increase in oil production, the price arbitrage that typically drives this trade would sufficiently diminish. A scale back in this trade therefore would have a negative effect that would be sufficient to dampen the part of the boost that one would expect. To what extent remains to be seen as there are a fair amount of variables still in play.
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Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
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- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- PTC India Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
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