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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, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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Showing 1516 to 1520 news of total 6871 |
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- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
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