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