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