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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, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
Wednesday, 13 June 18
SHIPPING MARKET INSIGHT - SOPHIE COTZIAS
2018 marks quite a few milestones for Greek Shipping. No need to detail again the greatness of Greek Shipping or the singular position that Greek s ...
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Showing 1696 to 1700 news of total 6871 |
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- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- The University of Queensland
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
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