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