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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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Tuesday, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
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- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Planning Commission, India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Parliament of New Zealand
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
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