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