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Tuesday, 26 June 18
A SHARP RISE IN THE PRICE OF CRUDE OIL WAS TO BE SEEN ON FRIDAY, ITS BIGGEST DAILY GAIN IN TWO YEARS - GEORGE LAZARIDIS
 A sharp rise in the price of crude oil was to be seen on Friday, its biggest daily gain in two years, as OPEC reached a deal to raise output. Despite the fact that the deal that has been in the works for some time now with the purpose of cooling down the recent hike in prices, many seemed to be relieved by the announcement, feeling that the increase in production did not go as far as most had anticipated and that most of the of the rise will be going partly to compensate for production outages in countries such as Venezuela, says George Lazaridis Head of Research & Valuations of Allied in his latest weekly report.
He further noted that, the production increase is roughly said to reach up to 1 million barrels a day collectively, while Russia is also onboard with the decision. Prices have cooled off slightly today from their high point on Friday, while at the same time we have been seeing a fair number of speculators cutting back on their bullish bets on crude, pushing crude oil futures and options to their lowest point in nearly eight months.
According to George Lazaridis, this announcement for an increase in oil production levels comes at a point when the tanker market seems to be finally finding some stability. Rates managed to show some considerable improvement over the past week, especially for the larger Vessels and Suezmaxes, while it looks as though there could be some further improvement insight before we even start to see the production hikes take shape.
At the same time, he said, it is important to note the developments we have seen in the crude oil tanker fleet since the start of the year. Over the course of the year the fleet has stayed relatively on par having decreased by 1 vessel or 0.04%. For comparison, during the same time frame back in 2017 the fleet growth rate had reached 3.27%, while it finally closed off the year with a rate of increase of 4.23%. Given that the second half of the year is expected to go much the same way in terms of fleet development as what we have witnessed during the first half, we should be set for a fair rebalancing between demand and supply in the market. Adding to the mix this recent increase in production and the boost in trade it could drive given the fact that it comes at a time of rising global demand, we should see a fair improvement in trade volumes over the coming months.
This should translate into a fair strong growth rate for trade for the year as a whole, while it goes without saying that most of this increase is to be noted over the next six months which should mean for a fair improvement in the freight market for crude oil tankers.
George Lazaridis says, however, it hasn’t been all great news of late. One of the most promising developments of late, namely the increasing trade flows that have been witnessed between the US and Far East could be set for a major setback. The recent trade friction between the US and a number of its trading partners in the Far East does leave for a possibility of serious retaliatory action, something that could well take the form of a cutting back of crude oil imports from the US. Albeit those volumes from the US are still relatively small compared to the total global trade, their tonne-mile effect is worth taking note. At the same time, given the drop in crude oil prices that should in theory take place from this increase in oil production, the price arbitrage that typically drives this trade would sufficiently diminish. A scale back in this trade therefore would have a negative effect that would be sufficient to dampen the part of the boost that one would expect. To what extent remains to be seen as there are a fair amount of variables still in play.
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Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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Showing 1651 to 1655 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- MS Steel International - UAE
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