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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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Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
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- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- The Treasury - Australian Government
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