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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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Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
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Showing 1616 to 1620 news of total 6871 |
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- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
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