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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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Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- Anglo American - United Kingdom
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Posco Energy - South Korea
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