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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, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
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- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Minerals Council of Australia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Economic Council, Georgia
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