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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, 30 May 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
Among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced ...
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscieleck ...
Tuesday, 29 May 18
INDIA'S COAL IMPORT DECLINES IN APRIL AMID DIVERSION TO THERMAL POWER PLANTS - PTI
India’s coal import fell by 9 percent to 17.32 million tonnes (MT) in April on the back of ample supply of dry fuel from domestic sources.
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Monday, 28 May 18
COAL SUPPLY DIVERSION IRKS INDUSTRIES DEPENDENT ON CAPTIVE POWER PLANTS - HINDU BUSINESS LINE
The government’s move to prioritise coal supplies to power plants with minimal coal stock has disrupted fuel supply to some sectors, which ha ...
Monday, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
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Showing 1711 to 1715 news of total 6871 |
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- Tata Chemicals Ltd - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
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