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