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