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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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Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
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- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Parliament of New Zealand
- The University of Queensland
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
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