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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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Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
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- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- White Energy Company Limited
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
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