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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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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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Showing 1686 to 1690 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
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