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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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Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
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