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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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Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
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Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
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Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
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- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- The Treasury - Australian Government
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
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