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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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Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
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- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- PTC India Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
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