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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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Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
Sunday, 31 January 16
BDI CONTINUED ITS FALL AND CLOSE AT A FRESH RECORD LOW ON FRIDAY
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, continued it ...
Friday, 29 January 16
INDONESIAN BENCHMARK COAL PRICE SETTLES DOWN $ 0.31, OR 0.58%, AT $ 53.20 A TON
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further down in January 2016. HBA has slumped by 0.58 ...
Friday, 29 January 16
U.S. COAL PRODUCTION OFF 2 PERCENT FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 milli ...
Thursday, 28 January 16
COAL REMAINS THE NO.1 FUEL FOR POWER GENERATION - EXXONMOBIL
COALspot.com: Energy demand trends from 2010 to 2040 are expected to vary significantly around the world, as countries move along very different tr ...
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- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Parliament of New Zealand
- Deloitte Consulting - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
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