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Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPEC’s historic decision to defend its market share had massive repercussions for oil markets, resulting in the collapse of oil prices, falling US shale oil output, major overhang of crude supply and dramatic cutbacks in the oil companies’ capital expenditure. In contrast, OPEC’s strategy “turbocharged” the crude tanker market, generating more seaborne trade to existing and new markets, supporting operational/logistical floating storage and fuelling delays and inefficiencies in tanker transportation.
Shipbroker Gibson noted that “just before this year’s meeting, a highly regarded energy markets publication reported (quoting a senior OPEC delegate) that Saudi Arabia would support a co-ordinated reduction of 1 million b/d in 2016, if other OPEC members and non-OPEC countries, such as Russia, Mexico, Oman and Kazakhstan commit to reducing production. As OPEC decided not to cut, it will once again have significant implications for the crude tanker market. Strong Middle East crude exports will continue to oil the wheels of tanker trade. In addition, the widely anticipated return of Iran to international markets will provide a further boost to trade requirements, although at a risk of increased competition from the NITC fleet”.
Gibson added that “the expectations are that Iranian crude production could rise between 0.5 and 1 million b/d within a year of sanctions being lifted. The growth in Iranian crude exports will only add to an already oversupplied crude market and as such this will support additional storage requirements and loading/discharge delays. Crude tankers will also benefit in the medium term due to forecast greater reliance on the OPEC crude, in particular from the Middle East as lower oil prices are likely to translate into a decline in non-OPEC crude production before 2020”.
However, the London-based shipbroker said that the question remains whether the strategy of defending market share will be maintained if oil prices continue to fall. “The reversal of the current strategy would naturally result in less seaborne crude trade. It would also aid rebalancing in oil markets, reducing, if not eliminating the overhang of world crude production over demand. In this scenario, inefficiencies in tanker transportation are likely to decline, releasing additional tanker capacity into the market. To sum up, today’s decision is welcome news for tanker owners. However, the call for collective action should not be completely ignored or dismissed, as any cutback in the Middle East crude output would significantly impact on owners’ fortunes”, Gibson concluded.
Meanwhile, in the tanker market this week, in the Middle East, “VLCC Charterers quickly came to the conclusion that there would be no rate retreat for the balance of December, and then decided to go on a preHoliday shopping spree. So much so, that the market ramped back to the recent record peaks seen in October, and the party has still not finished. As high as ws 95 for short East, and ws 50 to the USGulf, have been paid and although there may well be some profit taking to stall further upward movement, Owners will try very hard not to allow this spike to puncture as rapidly as the last, with big bonus awards if they can keep a grip into January. Suezmaxes saw nothing as dramatic, but enough attention turned their way to encourage a bolder stance, and rates moved above ws 100 to the East and into the mid ws 50s West with perhaps more to come next week. Aframaxes kept their upward momentum intact, going further to 80,000 by ws 135 to Singapore, and now with sights upon hitting ws 145 over the coming period…they may well succeed”, Gibson noted.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
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- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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