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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, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
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- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- White Energy Company Limited
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
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