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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, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
Wednesday, 13 June 18
SHIPPING MARKET INSIGHT - SOPHIE COTZIAS
2018 marks quite a few milestones for Greek Shipping. No need to detail again the greatness of Greek Shipping or the singular position that Greek s ...
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Showing 1696 to 1700 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
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