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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, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
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- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
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