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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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Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
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- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
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