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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, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
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- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
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