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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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Tuesday, 26 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
Monday, 25 June 18
AUSTRALIA'S NEWCASTLE PORT SHIPPED 12.179 MT OF COAL IN MAY; DOWN 14.77% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,453.6 Mi ...
Monday, 25 June 18
COAL IN THE CROSSFIRE: CHINESE TRADERS WARY OF BEING BURNT BY TRADE WAR - REUTERS
At least three U.S. coal shipments on their way to China may end up casualties of the escalating trade dispute after Beijing said it would impose s ...
Saturday, 23 June 18
COAL GROUP TARGETS 9 PER CENT REVENUE SPIKE - VIET NAM NEWS
Viet Nam News reported, the Viet Nam National Coal and Mineral Industries Group (Vinacomin or TKV) is targeting VNĐ116.9 trillion (US$5.1 billion) ...
Thursday, 21 June 18
ROBUST ASIAN THERMAL COAL DEMAND CREATES OPPORTUNITIES FOR AUSTRALIA - MINERALS COUNCIL OF AUSTRALIA
Minerals Council of Australia reported, Australia’s world-class coal mining industry can create more jobs in Australia and strengthen t ...
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- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
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