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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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
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- MS Steel International - UAE
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
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