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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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- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
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