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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, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
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