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Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
 A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in their infancy, we may well be seeing moves that could make these extremely favorable tailwinds be close to having run their course, says Allied Shipping Research in its latest report.
George Lazaridis, Head of Research & Valuations of Allied Shipping Research, this weekend OPEC+ made some fairly controversial announcements with regards to its next monthly meeting which will take place this Wednesday. OPEC announced that it would discuss a plan to introduce substantial cuts in production of between 0.5 and 1.0 mbpd. This would make it by far the largest production cut since April 2020, when oil demand collapsed during the early part of the coronavirus pandemic. The reasoning behind this is claimed to be a preemptive effort to prop up prices before any potential global economic slowdown has its effects on crude oil consumption growth, but to also retain ample spare production capacity in case Russian output were to fall sharply during the next few months due to the increasing western sanctions coming into force.
Allied Shipping report further noted that, obviously in the case of the former, to most, it sounds more of a case of self-fulfilling prophecy, given that one of the biggest risks that global economic growth faces right now is the extensively high energy costs being faced. Beyond this, what struck most people as a major surprise is that this decision went counter to what we had been seeing during the summer months, where pressure from the US had pushed the OPEC+ group to accelerate production increases. It also gives Russia considerable breathing room, as higher oil prices would help prop up its oil revenues which have been facing considerable pressure of late as part of the large discounts it has had to offer and the considerable strengthening of the Ruble.
The weekly report further noted that, the prime mover in the tanker freight market, over the course of these past few months, has been an increase in consumption levels back to pre-pandemic levels. On top of this, we have also seen a considerable positive gain from increasing ton-miles, as supply chain disruptions from Russian sanctions caused a shift towards farther away sourcing. Given the inelastic nature of crude oil demand, the overall effect of the above would be hard to pinpoint and would likely be relatively minimal.
However, according to George Lazaridis, under the current global economic conditions and given how difficult the winter months were expected to be even before this announcement, an even further spike in crude oil prices compared to what was previously expected could further smother economic activity and in turn dampen the ability of most major economies (and in turn consumers) from keeping their consumption levels on par with the trends noted over the past few months.
Furthermore, it sets for an even more ominous horizon for crude oil markets, as even before this announcement by OPEC+, the high prices of crude had already helped fuel a major shift towards alternative energy sources. There was already talk in the market that these currently high energy prices had helped bring the energy transition agenda forward by 4 to 5 years. At even higher crude oil prices, an investment in its alternatives becomes ever increasingly more viable and further boosts its potential return on investment.
For the time being it looks as though the tanker market will just have to make the most of what it has been given and hope that things don’t turn sour too quickly. We must not forget that any decision to change production levels by OPEC+ takes a fair amount of time before it is fully implemented. At the same time given the geopolitical nature of all this, it is too early to tell if any and all of these scenarios follow through.
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Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
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- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
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