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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, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
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- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
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