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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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Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- The University of Queensland
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
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