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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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Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
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- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- The University of Queensland
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
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