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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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Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
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Showing 2576 to 2580 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
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