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