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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, 11 June 18
AUSTRALIAN COAL PRICES HIT 6-YEAR HIGH AS ASIA DEMAND SPIKES - REUTERS
Australian thermal coal prices have risen to their highest level since 2012 as hot weather across North Asia spurs buying ahead of the peak summer ...
Monday, 11 June 18
ANALYSING A NEW AGE OF AUTONOMOUS VESSELS - IMO
The International Maritime Organization answers the questions of Government Europa on how the next generation of autonomous vessels can be regulate ...
Friday, 08 June 18
AUSTRALIAN THERMAL COAL PRICES SURGE AS ASIA DEMAND HEATS UP - REUTERS
Australian thermal coal prices have hit their highest level since late 2016 as the market heats up on strong demand across North Asia and China in ...
Wednesday, 06 June 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
As observed last month the price of oil hit its highest level since November 2014 reaching $80 per barrel. Global oil demand growth for 2018 was sl ...
Tuesday, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
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Showing 1701 to 1705 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- The University of Queensland
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
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