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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, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
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Showing 1741 to 1745 news of total 6871 |
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- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Planning Commission, India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
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