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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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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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Showing 1686 to 1690 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- The University of Queensland
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Australian Coal Association
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
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