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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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Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
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- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
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