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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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- The University of Queensland
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
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