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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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Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
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- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- White Energy Company Limited
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Planning Commission, India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
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