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