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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, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
Friday, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
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- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Planning Commission, India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
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