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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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- Power Finance Corporation Ltd., India
- PTC India Limited - India
- The University of Queensland
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Economic Council, Georgia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
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