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