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