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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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Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
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Showing 1731 to 1735 news of total 6871 |
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- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Economic Council, Georgia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
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