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Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
 It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
The week had already started on a bullish footing, with oil prices hovering around the US$ 80 per barrel mark as many in the market braced for further potential disruptions that could be brought about by Hurricane Florence said George Lazaridis, Head of Research & Valuations allied shipping in his latest weekly report.
According to George Lazaridis, being already in a state of readiness, Trump’s UN speech was set to liven up the speculative flames as he took an aggressive tone on OPEC and what he sees as a continued effort in pushing up oil prices. This coupled with the bringing back of US sanctions against Iran’s oil sector (set to kick in around November) was more than enough to drive up concerns and bring back speculators by the masses. Given that it was only recently that OPEC and Russia decided against raising output beyond what they had agreed on back in June, many have already been in anticipation of a supply crunch in the making.
Adding to this George Lazaridis said, the most recent report released by the US Energy Information Administration which showed one of the largest drops in US crude stockpiles which pushed their levels below their five-year average for this time of the year, it looks as though these concerns may well have a stable founding. All this was enough to shoot the price of Brent Crude to its highest level in four years, while in early trading hours today it had jumped to just above US$ 83 a barrel. West Texas Intermediate was quick to follow peaking at US$ 73.65 a barrel, its highest level since July. At the same time U.S. crude oil production may well be breaking one record after another, but we are already seeing signs that it is starting to plateau given that in the last quarter we witnessed the lowest level of new oil rig additions since 2017. With such bullish signs on the horizon, it looks as though there was plenty of motivation for many traders to book in volumes these past weeks, while given that most small and medium sized oi producers have been scaling back their forward contracts, many importers were filling up inventories and stockpiles before the price surge gained further momentum.
He further noted, all this seems to have ramped up demand in oil tankers during the past couple of weeks, helping boost freight rates across most major routes. At the same time this leaves for much concern as we may on the one hand have seen a temporary spike in enquiries, however if this upward price trend in crude oil continues for too long, it may well dampen demand and cause for a dramatic scale back which would leave the freight market in a worse off state than what we were witnessing during the same time frame last year. There are however signs that things may well improve, with indications seen that many have already started to switch over to different suppliers as they look to circumvent the Iranian oil restrictions. These sorts of restrictions always cause an inevitable hike in tone-mile demand as most look to source their needs from further away destinations than they would be under normal conditions. At the same time given that Saudi Arabia’s state oil giant Saudi Aramco is set to bring new crude output capacity online in the fourth quarter of 2018 from its two fields in Khurais and Manifa, it has in effect increased its ability to boost its production figures by a further 550,000 bpd if there is demand and if it agrees to do so in the next OPEC members meeting.
With ample extra capacity given that it utilizes only 10.5 million bpd from its total capacity of 12 million bpd, its commitment to offset a drop in Iranian production is realistic while also leaving ample excess capacity to further drive growth in global output levels.
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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- PTC India Limited - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
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