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Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
 Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing days lay ahead.
In the year to date earnings have followed much in line with the troubled levels that were being noted a year prior. The main difference was that this year we were starting to get “good vibes” as to the prospects of both trade and fleet development moving forward George Lazaridis, Head of Research & Valuations in Allied shipping says in his latest weekly report.
In terms of trade, the steps that were slowly being taken by OPEC and Russia, namely to ramp up their production levels, were already starting to pay dividends on some routes. At the same time the Fracking revolution in the US has already helped shift trade patterns in such a way that each extra tonne of crude oil being shipped on average adds for considerably increase in tone-mile against what it would be adding a couple of years back. He further noted that, given that most of the foreseeable consumption growth is seemingly being generated from Far Eastern economies, the significance of this latter point gains further traction and weighting when looking at expectations of how trade will evolve moving forward. Just to put a few figures to mind, the Asian Pacific and African regions have shown a 31.1% and 32.1% increase in crude oil consumption over the past decade according to the latest figures provided by BP’s statistical review, while in comparison Europe and North America have shown a decrease of 9.1% and 5.3% during the same time frame.
According to George Lazaridis , in the case of the Asian Pacific region this growth rate is ever more significant given that the region now holds a 35.6% share of global crude oil consumption (Africa on the other hand still takes up a mere 4.2%) marking it close to on par with the combined share of 39.8% taken up by Europe and North America. The trend therefore seems to be ever more Eastbound for trade flow in this sector, while given that the US is now being poised as becoming a strong export player, the recent trend noted in terms of tonne-mile increases, is likely to further bolster over the coming years.
On the other side of the equation, we had been witnessing a relative improvement in the overall crude oil tanker fleet development over the past 6 months. The total fleet of crude oil tankers has decreased by around 0.4% during the first 6 months of the year, mainly thanks to the extensive ship recycling activity undertaken and the relatively “soft” newbuilding delivery schedule that was at hand. With this trend likely set to continue on for at least the near-term, especially in the case of newbuilding deliveries where things have eased off further, the freight market should find a relative balance even under the pessimistic scenario that we see a minimal growth rate emerge in terms of trade.
Given that there are still a fair number of indicators pointing to an improvement in trade volumes for the near term, there should in theory be reasonable room for a fair spike in freight rates to take place in the final quarter of the year. Granted that the recent trade disputes that have arisen between the US and China have dampened hopes by a certain degree, but the overall trend is still there and given that OPEC and Russia are still looking to be committed to their goal of increasing their production levels, this should help generate an ever-increasing flow of crude to the East.
At the same time, it is important to take note that there still seems to be a wave of new refinery capacity set to come online in China (Asia’s largest consumer) while it is important to note that the countries oil refinery throughput had risen by 8.2% y-o-y in May.
- George Lazaridis, Head of Research & Valuations, Allied Shipping -
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Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
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Showing 1616 to 1620 news of total 6871 |
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- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- PTC India Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
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