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Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well as newly established oil tanker routes, which came as a result of the booming US oil production. In its latest monthly outlook, shipbroker Intermodal, noted that the continuously softening price of oil has been monopolizing head-lines for a while now, a very short period of less than five months, the price of the commodity has been slashed. The benchmark price of Brent has moved from $110 per barrel in the beggining of July $80 per barrel a couple of days ago, a sharp decline of more than 27% and a level last visited in September 2010.
In its analysis, Eva Tzima, Intermodal’s Research Analyst said that “the price of the loyal servant of energy which has been steadily climbing post the end of the Lehman market shock, has been a key driver of developments across the globe. Amidst a high priced oil environment other energy sources have started to steadily gain popularity and eventually a bigger share in the energy market. So what has pushed the price of oil down and most importantly how sustainable this new environment might be? The US shale oil revolution has come at a time when global growth prospects are ailing and the role of central banks remains vital in safeguarding the journey to economic recovery.As shale oil production started to account for a big share in the US market through, the US has significantly reduced its imports from OPEC countries exerting significant pressure especially on South American and West African oil exports. As expected, the increasing US output that reached its highest level in almost 30 years, has added to the global oil supply glut that was already being built up by the growth slowdown of economies in the likes of China and Europe and their consequent lesser demand for oil”, she said.
According to Tzima, “as excess supply started putting pressure on the price of oil lately, most were expecting OPEC producers to start curbing their supply in an effort to support prices. Instead, in the beggining of last month, Saudi Aramco, Saudi Arabia’s state-run producer and the world;s dominant exporter, didn’t meddle with its exports volume at all but moved ahead with cutting prices for all exports. Such decision is logically identified by most analysts as an effort by the Saudis to defend their global market share no matter what the cost is at this stage and it seems that so far this working. Asian oil demand has already increased, with Far East importing countries being lured back to higher import levels, helping crude carriers benefit not only from lower bunker prices but also from increase Eastbound demand. Most notably, and despite the fact that oil demand in China has been weakening throughout the year, the country’s import have started picking up significantly since mid-summer, roughly around the same time that oil prices started to slide. China started taking advantage of the current low price environment by quickly accelerating its imports in the 3-month period of July-September with the purpose to reinforce its strategic reserves”.
Intermodal’s analysts added that “at the same time, talks of US oil export ban being lifted seems to be warming up again. The incoming head of the Senate Energy Committee, Republican Senator Lisa Murkowski, who has been a big supporter of relaxing the ban, will be able to continue doing so in a more favorable environment following the recent win of Republicans in the control of the Senate. Although nobody believes that the 40-year ban could be easily relaxed, Senator Murkowski’s rising to this position comes at a timing that could only add pressure on overall sentiment for oil prices globally. With OPEC talking no stance to support oil prices and the US shale oil production resuming at current levels, it seems that we are heading for lower price of oil in the short term, but whether this can become the new normal, I would think ”Not so fast..”The reality is that US shale oil producers need oil prices to remain at levels that won’t squeeze their own margins in order for their production to remain competitive, while at the same time, economies like that of Russia will be hardly hit of oil prices keep sliding for a prolonged period. The same holds for other OPEC members that will eventually put pressure on the Saudis to act in order to stabilize prices. So let’s just enjoy cheap oil for now, because this might not be a case of ”last man standing” between oil producers after all, but only case of just shuffling the deck”, Tzima concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- PTC India Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
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