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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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Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been tr ...
Thursday, 12 July 18
SUPRAMAX: INDO/CHINA COAL RV IS BEING FIXED AROUND USD 10500 BSS SINGAPORE - FEARNLEYS
Capesize
Cape market continue to be extremely volatile says Fearnleys in its latst weekly report.
The further noted that, last week ended wi ...
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- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Planning Commission, India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
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