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Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
 A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in their infancy, we may well be seeing moves that could make these extremely favorable tailwinds be close to having run their course, says Allied Shipping Research in its latest report.
George Lazaridis, Head of Research & Valuations of Allied Shipping Research, this weekend OPEC+ made some fairly controversial announcements with regards to its next monthly meeting which will take place this Wednesday. OPEC announced that it would discuss a plan to introduce substantial cuts in production of between 0.5 and 1.0 mbpd. This would make it by far the largest production cut since April 2020, when oil demand collapsed during the early part of the coronavirus pandemic. The reasoning behind this is claimed to be a preemptive effort to prop up prices before any potential global economic slowdown has its effects on crude oil consumption growth, but to also retain ample spare production capacity in case Russian output were to fall sharply during the next few months due to the increasing western sanctions coming into force.
Allied Shipping report further noted that, obviously in the case of the former, to most, it sounds more of a case of self-fulfilling prophecy, given that one of the biggest risks that global economic growth faces right now is the extensively high energy costs being faced. Beyond this, what struck most people as a major surprise is that this decision went counter to what we had been seeing during the summer months, where pressure from the US had pushed the OPEC+ group to accelerate production increases. It also gives Russia considerable breathing room, as higher oil prices would help prop up its oil revenues which have been facing considerable pressure of late as part of the large discounts it has had to offer and the considerable strengthening of the Ruble.
The weekly report further noted that, the prime mover in the tanker freight market, over the course of these past few months, has been an increase in consumption levels back to pre-pandemic levels. On top of this, we have also seen a considerable positive gain from increasing ton-miles, as supply chain disruptions from Russian sanctions caused a shift towards farther away sourcing. Given the inelastic nature of crude oil demand, the overall effect of the above would be hard to pinpoint and would likely be relatively minimal.
However, according to George Lazaridis, under the current global economic conditions and given how difficult the winter months were expected to be even before this announcement, an even further spike in crude oil prices compared to what was previously expected could further smother economic activity and in turn dampen the ability of most major economies (and in turn consumers) from keeping their consumption levels on par with the trends noted over the past few months.
Furthermore, it sets for an even more ominous horizon for crude oil markets, as even before this announcement by OPEC+, the high prices of crude had already helped fuel a major shift towards alternative energy sources. There was already talk in the market that these currently high energy prices had helped bring the energy transition agenda forward by 4 to 5 years. At even higher crude oil prices, an investment in its alternatives becomes ever increasingly more viable and further boosts its potential return on investment.
For the time being it looks as though the tanker market will just have to make the most of what it has been given and hope that things don’t turn sour too quickly. We must not forget that any decision to change production levels by OPEC+ takes a fair amount of time before it is fully implemented. At the same time given the geopolitical nature of all this, it is too early to tell if any and all of these scenarios follow through.
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Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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Showing 261 to 265 news of total 6871 |
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- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
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