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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, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Minerals Council of Australia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
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