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Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
 Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing days lay ahead.
In the year to date earnings have followed much in line with the troubled levels that were being noted a year prior. The main difference was that this year we were starting to get “good vibes” as to the prospects of both trade and fleet development moving forward George Lazaridis, Head of Research & Valuations in Allied shipping says in his latest weekly report.
In terms of trade, the steps that were slowly being taken by OPEC and Russia, namely to ramp up their production levels, were already starting to pay dividends on some routes. At the same time the Fracking revolution in the US has already helped shift trade patterns in such a way that each extra tonne of crude oil being shipped on average adds for considerably increase in tone-mile against what it would be adding a couple of years back. He further noted that, given that most of the foreseeable consumption growth is seemingly being generated from Far Eastern economies, the significance of this latter point gains further traction and weighting when looking at expectations of how trade will evolve moving forward. Just to put a few figures to mind, the Asian Pacific and African regions have shown a 31.1% and 32.1% increase in crude oil consumption over the past decade according to the latest figures provided by BP’s statistical review, while in comparison Europe and North America have shown a decrease of 9.1% and 5.3% during the same time frame.
According to George Lazaridis , in the case of the Asian Pacific region this growth rate is ever more significant given that the region now holds a 35.6% share of global crude oil consumption (Africa on the other hand still takes up a mere 4.2%) marking it close to on par with the combined share of 39.8% taken up by Europe and North America. The trend therefore seems to be ever more Eastbound for trade flow in this sector, while given that the US is now being poised as becoming a strong export player, the recent trend noted in terms of tonne-mile increases, is likely to further bolster over the coming years.
On the other side of the equation, we had been witnessing a relative improvement in the overall crude oil tanker fleet development over the past 6 months. The total fleet of crude oil tankers has decreased by around 0.4% during the first 6 months of the year, mainly thanks to the extensive ship recycling activity undertaken and the relatively “soft” newbuilding delivery schedule that was at hand. With this trend likely set to continue on for at least the near-term, especially in the case of newbuilding deliveries where things have eased off further, the freight market should find a relative balance even under the pessimistic scenario that we see a minimal growth rate emerge in terms of trade.
Given that there are still a fair number of indicators pointing to an improvement in trade volumes for the near term, there should in theory be reasonable room for a fair spike in freight rates to take place in the final quarter of the year. Granted that the recent trade disputes that have arisen between the US and China have dampened hopes by a certain degree, but the overall trend is still there and given that OPEC and Russia are still looking to be committed to their goal of increasing their production levels, this should help generate an ever-increasing flow of crude to the East.
At the same time, it is important to take note that there still seems to be a wave of new refinery capacity set to come online in China (Asia’s largest consumer) while it is important to note that the countries oil refinery throughput had risen by 8.2% y-o-y in May.
- George Lazaridis, Head of Research & Valuations, Allied Shipping -
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Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
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Showing 1616 to 1620 news of total 6871 |
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- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
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