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