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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, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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Showing 1526 to 1530 news of total 6871 |
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- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
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