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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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Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
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