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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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- ASAPP Information Group - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
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