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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, 11 June 18
AUSTRALIAN COAL PRICES HIT 6-YEAR HIGH AS ASIA DEMAND SPIKES - REUTERS
Australian thermal coal prices have risen to their highest level since 2012 as hot weather across North Asia spurs buying ahead of the peak summer ...
Monday, 11 June 18
ANALYSING A NEW AGE OF AUTONOMOUS VESSELS - IMO
The International Maritime Organization answers the questions of Government Europa on how the next generation of autonomous vessels can be regulate ...
Friday, 08 June 18
AUSTRALIAN THERMAL COAL PRICES SURGE AS ASIA DEMAND HEATS UP - REUTERS
Australian thermal coal prices have hit their highest level since late 2016 as the market heats up on strong demand across North Asia and China in ...
Wednesday, 06 June 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
As observed last month the price of oil hit its highest level since November 2014 reaching $80 per barrel. Global oil demand growth for 2018 was sl ...
Tuesday, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
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Showing 1701 to 1705 news of total 6871 |
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- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
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