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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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Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been tr ...
Thursday, 12 July 18
SUPRAMAX: INDO/CHINA COAL RV IS BEING FIXED AROUND USD 10500 BSS SINGAPORE - FEARNLEYS
Capesize
Cape market continue to be extremely volatile says Fearnleys in its latst weekly report.
The further noted that, last week ended wi ...
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- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
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