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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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Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
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- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
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