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