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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, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
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Showing 1741 to 1745 news of total 6871 |
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- The University of Queensland
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
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