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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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Wednesday, 30 May 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
Among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced ...
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscieleck ...
Tuesday, 29 May 18
INDIA'S COAL IMPORT DECLINES IN APRIL AMID DIVERSION TO THERMAL POWER PLANTS - PTI
India’s coal import fell by 9 percent to 17.32 million tonnes (MT) in April on the back of ample supply of dry fuel from domestic sources.
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Monday, 28 May 18
COAL SUPPLY DIVERSION IRKS INDUSTRIES DEPENDENT ON CAPTIVE POWER PLANTS - HINDU BUSINESS LINE
The government’s move to prioritise coal supplies to power plants with minimal coal stock has disrupted fuel supply to some sectors, which ha ...
Monday, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
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Showing 1711 to 1715 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- The University of Queensland
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- PTC India Limited - India
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