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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, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
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Showing 1716 to 1720 news of total 6871 |
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- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
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