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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, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
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Showing 2616 to 2620 news of total 6871 |
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- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
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