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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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Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
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