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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, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
Thursday, 02 August 18
INDO / CHINA COAL RV'S IS PAYING AROUND USD 11,000 TO SUPRAS BSS DELIVERY SINGAPORE - FEARNLEYS
Capesize
The counter seasonally strong market during the summer months bodes well for the remainder of the year.
According ...
Wednesday, 01 August 18
JOKOWI CANCELS PLAN TO REVOKE COAL DMO - JP
President Joko "Jokowi" Widodo on Tuesday has canceled the government’s plan to revoke the domestic market obligation (DMO) for coa ...
Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to ...
Tuesday, 31 July 18
INDONESIA UNLIKELY TO CHANGE COAL SUPPLY, PRICING RULES UNTIL 2019 - REUTERS
Indonesia is unlikely to change its rules on domestic coal supply and pricing until 2019, Coordinating Maritime Minister Luhut Pandjaitan said on M ...
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- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
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