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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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Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
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Showing 1636 to 1640 news of total 6871 |
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- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
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