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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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Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing da ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been tr ...
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Showing 1666 to 1670 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
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