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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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Sunday, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
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Showing 1511 to 1515 news of total 6871 |
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- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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