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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, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
Wednesday, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
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Showing 2611 to 2615 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
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