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Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
 Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expert, Sheikh Fahad Al-Daoud Al-Sabah. Sheikh Fahad, a specialist in oil refining strategies, said in an interview with Kuwait News Agency (KUNA) geopolitical events became the major factor influencing oil prices, at present, indicating at dwindling impact of other factors, such supply and demand and market speculations.
He said the prices would not drop lower than $100 pb and might soar to $150 pb, in the coming two months, but may jump as high as $250pb in case Iran was targeted with a military strike, although such an eventuality was unlikely in the foreseeable future.
Price of the oil will remain unstable unless the Iranian issue is resolved and Tehran allows international inspectors examine its nuclear facilities and review its nuclear program, said Sheikh Fahad Al-Daoud, noting that the main current factor affecting the prices of the crude was imposition of curbs on the Iranian crude oil trade.
On OPEC’S role for stemming hikes of the oil prices, Al-Daoud said “certain problems” have hampered the cartel efforts in this respect, namely the fact that Iran is a a major and influential member of the organization and has supporters among the members. Elaborating in this regard, Sheikh Fahad indicated at difficult status of the GCC states, where in case they increased the oil production, Iran would consider such a step as hostile and if not, they would be showered with accusations about purported intentions to hard the world economy.
The Kuwaiti expert affirmed that OPEC was in a very difficult condition as to the available options and scenarios; facing pressure from Iran as a result of the curbs and counter pressures from Western powers. Nevertheless, the organization should seek to stem the prices, he stressed. He questioned whether OPEC could seek to pump more supplies into the market, in the shadow of the existing glut, and indicated at disarrays among the members as to the best options that should be chosen to cope with the crisis.
Despite existence of the surplus on the market, the price is likely to increase, he affirmed. “The world is moving on a certain pace, the equation is hard, and the storm cannot be resisted to stabilize the prices,” he opined further. On bleak scenario that would result from possible closure of the strategic Hormuz strait, he indicated that the UAE has already started building a pipeline to secure exports of the crude from a route other than the waterway.
He called on the other regional oil producers to follow Abu Dhabi’s suit, “for it is senseless that the Arab Gulf oil remains subject to status of Hormuz Strait.” On comeback of the Libyan oil experts and reports about new explorations in some countries, Sheikh Fahad Al-Daoud said such factors would lead to limited impact on the market and would, to a certain extent, contribute in stemming the prices.
Currently, there are huge supplies, in the face of high demand, and that is likely to hike further, he forecast, stressing that the price would certainly not drop below the level of $100 pb-even if the curbs on the Iranian oil are lifted.
Source: KUNA / Hellenic Shipping
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Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Krishnapatnam Port Company Ltd. - India
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- Price Waterhouse Coopers - Russia
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- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
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- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
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- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
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- Medco Energi Mining Internasional
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- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
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- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Planning Commission, India
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- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
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- Pendopo Energi Batubara - Indonesia
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- Chettinad Cement Corporation Ltd - India
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- Tamil Nadu electricity Board
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- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
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- Standard Chartered Bank - UAE
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- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
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- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Indian Oil Corporation Limited
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- Orica Australia Pty. Ltd.
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- Banpu Public Company Limited - Thailand
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- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
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- Larsen & Toubro Limited - India
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- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Economic Council, Georgia
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- Thiess Contractors Indonesia
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- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
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- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
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- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
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- Indian Energy Exchange, India
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- Sojitz Corporation - Japan
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- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
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- Semirara Mining Corp, Philippines
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- Electricity Authority, New Zealand
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- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
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