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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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Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
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Showing 221 to 225 news of total 6871 |
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- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- White Energy Company Limited
- Siam City Cement - Thailand
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
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