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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, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
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Showing 1716 to 1720 news of total 6871 |
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- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
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