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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, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- White Energy Company Limited
- Planning Commission, India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- The University of Queensland
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
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