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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, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
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$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
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- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
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