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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, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
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- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
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