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