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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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Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
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Showing 1591 to 1595 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
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