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Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
 It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
The week had already started on a bullish footing, with oil prices hovering around the US$ 80 per barrel mark as many in the market braced for further potential disruptions that could be brought about by Hurricane Florence said George Lazaridis, Head of Research & Valuations allied shipping in his latest weekly report.
According to George Lazaridis, being already in a state of readiness, Trump’s UN speech was set to liven up the speculative flames as he took an aggressive tone on OPEC and what he sees as a continued effort in pushing up oil prices. This coupled with the bringing back of US sanctions against Iran’s oil sector (set to kick in around November) was more than enough to drive up concerns and bring back speculators by the masses. Given that it was only recently that OPEC and Russia decided against raising output beyond what they had agreed on back in June, many have already been in anticipation of a supply crunch in the making.
Adding to this George Lazaridis said, the most recent report released by the US Energy Information Administration which showed one of the largest drops in US crude stockpiles which pushed their levels below their five-year average for this time of the year, it looks as though these concerns may well have a stable founding. All this was enough to shoot the price of Brent Crude to its highest level in four years, while in early trading hours today it had jumped to just above US$ 83 a barrel. West Texas Intermediate was quick to follow peaking at US$ 73.65 a barrel, its highest level since July. At the same time U.S. crude oil production may well be breaking one record after another, but we are already seeing signs that it is starting to plateau given that in the last quarter we witnessed the lowest level of new oil rig additions since 2017. With such bullish signs on the horizon, it looks as though there was plenty of motivation for many traders to book in volumes these past weeks, while given that most small and medium sized oi producers have been scaling back their forward contracts, many importers were filling up inventories and stockpiles before the price surge gained further momentum.
He further noted, all this seems to have ramped up demand in oil tankers during the past couple of weeks, helping boost freight rates across most major routes. At the same time this leaves for much concern as we may on the one hand have seen a temporary spike in enquiries, however if this upward price trend in crude oil continues for too long, it may well dampen demand and cause for a dramatic scale back which would leave the freight market in a worse off state than what we were witnessing during the same time frame last year. There are however signs that things may well improve, with indications seen that many have already started to switch over to different suppliers as they look to circumvent the Iranian oil restrictions. These sorts of restrictions always cause an inevitable hike in tone-mile demand as most look to source their needs from further away destinations than they would be under normal conditions. At the same time given that Saudi Arabia’s state oil giant Saudi Aramco is set to bring new crude output capacity online in the fourth quarter of 2018 from its two fields in Khurais and Manifa, it has in effect increased its ability to boost its production figures by a further 550,000 bpd if there is demand and if it agrees to do so in the next OPEC members meeting.
With ample extra capacity given that it utilizes only 10.5 million bpd from its total capacity of 12 million bpd, its commitment to offset a drop in Iranian production is realistic while also leaving ample excess capacity to further drive growth in global output levels.
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Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- GMR Energy Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
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