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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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Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
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Showing 1721 to 1725 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
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