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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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Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
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- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
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