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