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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, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
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Showing 1736 to 1740 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
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