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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, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
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Showing 1726 to 1730 news of total 6871 |
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- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
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