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