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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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Tuesday, 05 January 16
THE SHIPPING MARKET IN 2015 AND LOOKING FORWARD - BIMCO
Global economy: menacing clouds in the sky cast a shadow on global economic developments 2015 never really took off, even though the global economi ...
Tuesday, 05 January 16
4200 GAR COAL INDEX FALL TOWARD $27;SLIPPED 28.05% YEAR-TO-DATE
COALspot.com: Average 5000 GAR coal index has not moved in the past week, averaging $40.12 per ton on last Thursday, according to CS (i) Coal Index ...
Monday, 04 January 16
CFR SOUTH CHINA COAL SWAP REMAIN FLAT OVER CHRISTMAS & NEW YEAR HOLIDAYS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Friday, 01 January 16
FOB INDONESIA COAL SWAP FOR Q1'16 DELIVERY CLOSED AT $36.75 PER TON
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month but flat week over week.
According to AsiaClear OTC coal swap' ...
Thursday, 31 December 15
COAL PRICES FELL ON WEAK DEMAND
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 ...
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Showing 2626 to 2630 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- The University of Queensland
- London Commodity Brokers - England
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
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