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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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Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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Showing 261 to 265 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
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