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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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Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
Thursday, 07 January 16
FOB NEWCASTLE COAL SWAPS DELIVERY Q1'16 REMAIN FLAT W-O-W; UP M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.23 per ton (3.35%) this past week compared to the sam ...
Thursday, 07 January 16
SHIPPING WILL REMAIN VOLATILE AND INDISPENSABLE IN 2016 - MOORE STEPHENS
The ultimate definition of an optimist has been characterised as an accordion player with an answerphone. Such extreme optimism might be difficult ...
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December ...
Tuesday, 05 January 16
BIG COAL MINERS PLAN HIGHER PRODUCTION THIS YEAR - THE JAKARTA POST
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s c ...
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Showing 2621 to 2625 news of total 6871 |
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- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Australian Coal Association
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
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