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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, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
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Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
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Showing 1586 to 1590 news of total 6871 |
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- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
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