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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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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- PTC India Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
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