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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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Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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Showing 1651 to 1655 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
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