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