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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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Thursday, 31 December 15
2016 FOB NEWCASTLE COAL SWAP RALLY TO CLOSE AT $37.98/TON
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.48 per ton (4.05%) this past week compared to the sam ...
Wednesday, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
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- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Anglo American - United Kingdom
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
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