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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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Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
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Showing 1596 to 1600 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
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