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Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
 Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure and have significantly been declining since Q3 of 2017 as a result of demand-supply imbalance. Lately, Brent crude oil has hit a 3-year high evidence that OPEC’s policy for supply cuts is supporting prices. Forecasts for 2018 indicate elevated oil demand that might lead to healthier tanker rates, subject to a number of other factors as well.
IEA forecasts global crude oil demand to rise by 1.3% mainly on the back of increased imports by China and India. China’s crude oil imports increased by 800,000 bpd in 2017, representing 50% of the global oil demand growth. China’s domestic oil demand continues to grow, while inland output is respectively descending. IEA projects China’s oil import dependence to rise to 80% by 2040. Additionally, India’s crude oil demand is increasing rapidly, with the country’s import dependence reaching 82% last year. India’s imports from OPEC’s countries declined during 2017, while total imports from non OPEC producers such as US, Canada, Russia and Kazakhstan significantly increased. BP projects the country’s energy demand to rise faster than any other major economy between now and 2035. India’s oil consumption averaged 4.6 million bpd in 2017 and it is projected that the country’s crude oil demand will increase 4.3% in 2018.
It is reported that OPEC will maintain output cuts, while demand continues to grow in 2018. Non-OPEC production is estimated to grow by 1.3 million bpd, with most of it sourced from the US, paving the way for significant ton-mile demand gains, as the USG to Asia represents one of the longest hauls possible. US exports have already started to increase, a trend which is probable bound to continue as OPEC sticks to current production levels. Asian refineries have already increased their oil orders from the Caribbean and Gulf of Mexico. Concurrently, the trouble in Venezuela could discourage ton-mile growth as Europe and Asia are important consumers of Venezuelan crude and exports to these regions represent one of the longest hauls. Therefore, as US exports continue to grow, much of this benefit may be offset by declining long haul routes out of Venezuela.
When prices trended lower in past years, inventories built up and demand for storage spiked. Respectively, such demand diminished as inventories reached peak levels and storage became rarer. Nowadays, we are in the downward phase of this cycle almost after 5 years, as inventories are being utilized. Once inventory capacities return to more manageable levels, in line with historical averages, this would allow trade flows to stabilize, which could be a sort of tailwind for the crude tanker market once it all plays out. Of course the tanker deliveries that are schedule for this year, estimated at around 10.7 million dwt, as far as crude carriers are concerned, will most probably offset part of this expected upside.
A healthier crude market is expected in 2018, with analysts anticipating most of the upside to take place closer to the end of the year. As discussed, various supply-demand essentials may disturb the trade patterns and as always numerous of currently unknown risks could also present themselves during the year. Undoubtedly it looks like all of these trends will require close monitoring in the year ahead.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Saturday, 10 February 18
OIL PRICE USD 100/BARREL BY END OF 2018! - SAROJ MOHAPATRA
All demand supplies calculations are going wrong in oil market at present. US production is increasing at a good pace and set to topple Saudi comfo ...
Friday, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
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Showing 1811 to 1815 news of total 6871 |
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- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
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