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Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from developing nations, looking to replenish their stockpiles. However, another factor could also emerge, with the return of floating storage plays. According to the latest report from shipbroker Charles R. Weber, “following strong crude price losses during late 2008 and early 2009, the $45 emergence of a steep contango in crude futures markets supported a surge in demand for tankers to service floating storage contracts. By 2010, as the $30 wheels of the global economy improved on a return to strong growth in $15 emerging economies, the contango curve became steep enough to support $0 floating storage sufficiently to consume through much of 1H10 upwards of 10% of the global VLCC fleet. This lead to stronger earnings for the class with knock on effects for smaller tanker counterparts as overall availability levels declined”.
According to the shipbroker, “when crude prices started observing losses early during 2H14, the reemergence $60 of a contangoed futures curve reignited consideration of floating storage, but $45 little has materialized as the S/bbl storage costs consistently forward crude spreads. With the global demand/supply imbalance having extended through $30 2H14, the unwillingness by OPEC (or more specifically: a prominent contingent of OPEC’s membership) to react through supply cuts, recent downward $15 revisions by key oil forecasting agencies to demand projections implies that a wider imbalance will materialize during 2015. In its latest report, the IEA notes $0 the imbalance with a corresponding rise in implied steep building up of global crude inventories of relative earnings strength (if below present peak levels). How the crude $80 market develops thereafter will likely dictate the course that tanker earnings take through the remainder of 2015. $60 For its part, support from floating storage remains off the table due to the $40 prohibitively high cost to procure tonnage for such a purpose”.
C.R. Weber noted that “at present assessments, a 6 month floating storage contract off Singapore would equate to $20 a cost ~$5.84/bbl while the spread between Brent’s front month and July contracts stands at $3.72/bbl Further into 2015, however, continued crude price losses which could be inferred by the |EA’s projected widening of the global demand/supply $40 imbalance could lead to crude supply cuts to support prices. Though such a $30 scenario represents a threat to crude tanker demand, a simultaneous correcting of freight markets and steepening of contango curves could create the requisite $20 economics to support floating storage. This would likely place a floor on prospective freight downside while bridging the market to a subsequent $10 rebalancing of crude markets, thus limiting an impact on crude tanker earnings”, the shipbroker concluded.
Meanwhile, in the crude tanker markets this week, in the VLCC segment “rates firmed this week as charterers worked through much of the remainder of the Middle East market’s December program while owners became more bullish in a late reaction to narrower supply/demand fundamentals. Stronger demand in the Middle East market – where the December program has already yielded the most cargoes since the April program and is poised to conclude with the most since the February market – has coincided with a recent demand acceleration in the West Africa market. As both of these areas draw from Middle East positions, the region’s supply/demand positioning is at its narrowest level since 2008 with just 5 surplus positions through end? December dates. With 118 Middle East December cargoes covered to date and the program expected to conclude with 121, the 8 units which remain on position lists to cover the remaining stems appear set to observe premiums to present assessments. How aggressively charterers progress into the January program during the upcoming week will thus likely dictate the direction that rates will take for early January cargoes. Given shortened working weeks during the final two weeks of the year, charterers could reach forward on dates (as the market already is observing) during the upcoming week to cover requirements ahead of the holidays. Against the tight supply/demand profile, this would imply an extending of the present rate rally. Further forward, as the market moves past the first half of the January program and forward fixing windows normalize, the reappearance of units presently on trades to points in the east on Middle East position lists should see rates start to correct”, C.R. Weber concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
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Showing 3336 to 3340 news of total 6871 |
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- Attock Cement Pakistan Limited
- Australian Coal Association
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
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