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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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Showing 1521 to 1525 news of total 6871 |
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- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- PTC India Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
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