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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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Tuesday, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
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- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
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