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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, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
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- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Trasteel International SA, Italy
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