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Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
 Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil prices over the past couple of months. With Iranian oil out of the picture for many of the main importers, Saudi Arabia and the rest of the OPEC countries have already started to gradually increase their output to cover the demand gap, said Yiannis Vamvakas, Research Analyst of Allied Shipping.
However, he further noted that, these plans were disrupted by a footnote in these most recent sanctions, which stated that several countries (including China, India and Japan) are allowed to continue importing oil from Teheran for a limited time period, but without any specified limitation in the imported volume. It is worth mentioning that China is the biggest importer of Iranian oil. This would essentially leave Iranian production levels to approximately 1.1 million bpd in November and to even higher figures in December. In addition to this, competition from other countries has intensified. Russia has raised its output during the previous months (11.41 million bpd in October), and with further growth being planned for 2019. At the same time, US production is expected to reach to 10.7 million bpd by the end of the year and is set to increase by another 250,000 bpd in 2019. As a result, Brent oil prices, which had reached a four-year high of $86 a barrel in October based on tight supply concerns, have slid back down to $67 now, losing around 21% within a month.
Allied weekly research report further said, with a supply glut on the horizon, Saudi Arabia is now considering proceeding, together with the rest of OPEC members, to an output cut of about 1.4 million bpd, even though Washington asserts that the provision of waivers is a temporary measure. Another interesting aspect of the Iranian sanctions is the possible decision by Teheran to maintain production numbers at high levels, even after the waiver program expires, and use some of the domestic VLCC fleet as floating storage. With a considerable portion of the Iranian tanker fleet out of the picture, market participants can expect a positive impact on the demand for the rest of global tanker fleet despite reports that there are already around 14 inactive Iranian VLCCs.
Moreover, Yiannis Vamvakas said, it is worth mentioning that the average haul should increase, adding further support for freight rates. China will turn its focus to other oil sources with West Africa and Brazil being most likely candidates, increasing the average ton-mile demand significantly. Other Far Eastern countries that are currently under the US waiver program will also change their import business partners with the US being an additional option. However, here we should mention that despite the continuing dredging that takes place in the US Gulf ports, fully loaded VLCCs are still unable to call the majority of ports there.
Freight rates in the crude oil market have already picked up over the past couple of weeks, with the Iranian sanctions being an important factor. Beyond this however, with the northern hemisphere enter into its winter period, the seasonal increases in oil demand that typically take place have also played a significant role in this most recent rally. The Paris-based International Energy Agency (IEA) announced in their latest monthly report that its forecast for global demand growth for 2018 and 2019 have remained unchanged from last month. With some volatility being anticipated due to uncertainty in the oil market, market participants are expecting the positive sentiment to continue for the rest of 2018, as well as the first quarter of 2019. However, with the rate of deliveries expected to be seen within 2019 this current upward momentum trend may well end up being curbed significantly in the long run.
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Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
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- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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